The Mackenzie Master Limited Partnership (MMLP) is an amalgamation of
eight prior limited partnerships.
A Limited Partnership is a business
venture that has three key features,
which distinguish it from other types of business.
- It is backed by investors, known as
limited partners, who are not actively involved in the day-to-day
running of the business. A general partner (Mackenzie Financial Services
Inc. - MFSI) manages the business and is entitled to 0.01% of the
net annual income of the limited partnership.
- The liability, or risk, posed to the
investors is limited to the amount that they invested.
- he investors share the profits or
losses of the business and report a percentage of the income or loss
generated by the business on their own tax return. The limited partners
were entitled to large tax write-off during the initial years and
a stream of future income.