Pricing Structure and Series Enhancements | Mackenzie Investments

News Updates

Pricing Structure and Series Enhancements


Effective June 1, 2018, Mackenzie Investments will have a lower, simplified and more accessible pricing structure for investors. The changes will also require the consolidation or re-designation of certain fund series.

 

Clear, Consistent and Competitive Pricing

Mackenzie will lower fees and simplify the pricing structure of its fee-based and Private Wealth offerings.


What is happening?

Fee-based
Series F, PWF*

  • Reduced fees on most mutual funds in fee-based series
  • Investors will receive the lowest fee in the series, regardless of account size, starting at dollar one. This flat fee eliminates the need for tier movements and rebates
  • Simplified pricing with one fee-based series and one fund code

Private Wealth
Series PW, PWX, PWB, PWT, PWFB*

  • Reduced fees on most mutual funds in Private Wealth series
  • Once in the series, investors will receive the lowest fee regardless of their account size. This flat fee eliminates the need for tier movements and rebates.
  • Easier access into the Private Wealth series

Graph Click to enlarge

 


How?

Fee-based
Series F, PWF*

Private Wealth
Series PW, PWX, PWB, PWT, PWFB*

  • Reducing management fees of Private Wealth series on most funds by 2.5 to 15 basis points
  • Lowering the household minimum eligibility for Private Wealth to $100,000 from $250,000**
  • Flattening Private Wealth series fees and removing tiers/rebates

Benefits to you

  • Lower fees means investors keep more of their investment returns
  • Simpler and easier to understand fee structure - one fee for qualified accounts, no tiers or rebates
  • Easier access into the Private Wealth Series
  • No trades resulting from tier movements
  • No model or portfolio disruption in fee-based accounts
More information:
  • Mackenzie will continue to automatically switch qualified investors, with $100,000 in household assets, to the Private Wealth series. A 'high water mark', the highest peak in value that a fund or account has reached, is tracked for each investor/household and used to determine eligibility.
  • Mackenzie will grandfather fees for investors with a current rate lower than the new flat fee – which means no one is worse off because of these changes
  • Series O will only be available through Mackenzie Private Wealth Counsel or institutional investors

 


Series Consolidation / Re-designations

To create one fee-based series, series PWF and series E of all funds (with the exception of the Private Pools) will be merged into F. Series C of Mackenzie Cundill Value Class will also be merged into series F.

Series

Description

Series PWF of all Mackenzie Funds (with the exception of the Private Pools) will be consolidated into series F

Investors formerly in PWF of a fund will now be in series F.

Series E of all Mackenzie Funds will be consolidated into series F

Investors formerly in E of a fund will now be in series F.

Series C of Cundill Value Class will be consolidated into series F

Investors formerly in C of the fund will now be in series F.

To remove redundant series that pay the same monthly distribution on Mackenzie Strategic Income Fund, we will be merging some series.

  • merging series FB5 into FB, and soft-capping FB5 on March 29, 2018
  • merging series PWFB5 into series PWFB, and soft-capping PWFB5 on March 29, 2018

The soft cap will be effective on March 29 and the series merger is effective June 1. Investors who were enrolled in a pre-authorized chequing plan (PAC) as of March 29, 2018, may continue to make purchases into the capped series of these Funds. Investors will not be allowed to make any further "lump sum" purchases or switches into the capped series of the Funds.

Series

Description

Mackenzie Strategic Income Fund Series FB5 will be consolidated into series FB, and series PWFB5 will be consolidated into series PWFB.

  • Investors formerly in series FB5 of the Fund will now be in series FB.
  • Investors formerly in series PWFB5 of the Fund will now be in series PWFB.

No action required

Mackenzie will contact advisors and investors directly by mail about these changes. Advisors will receive a letter and impacted client report, which includes the sample investor letter. The advisor mailing will go out Monday April 30, 2018. The mailing to investors will start the following Monday.

* includes all fixed distribution rate series equivalents F5, F6, and F8, PW, PWT5, PWT6, PWT8, PWF, PWF5, PWF6, PWF8, PWFB, PWFB5, PWB, PWX, PWX5, PWX8
** Minimum eligibility requirement for Mackenzie’s Private Wealth Pools remains at $100,000 per pool or $250,000 across household assets

Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated.