TORONTO – March 28, 2018 – Today, Mackenzie Investments announced a new simplified and more accessible pricing structure for investors, which includes some fee reductions.
For investors in fee-based series1, Mackenzie is eliminating Private Wealth series2 and reducing fees to offer the same competitive management and administration fee for all account sizes. For investors in retail series with embedded dealer compensation, Mackenzie is simplifying Private Wealth series pricing to eliminate rebating and align management and administration fees (net of dealer compensation) with the fee-based series3.
As a result of these changes, most investors in Series F and Private Wealth series will receive lower fees and no investor will experience a fee increase. Private Wealth series will also be accessible to more investors, with a lower minimum eligibility requirement of $100,000 (from $250,000) per household4.
“We want it to be easier to do business with Mackenzie. By offering a significantly simplified and competitive pricing structure, we continue to put the focus on the needs of the investor. Our fees are clear and apply to all of our innovative products and solutions. This clarity also makes it easier for the advisors and dealers who work with our solutions,” said Barry McInerney, President and Chief Executive Officer, Mackenzie Investments.
Within the new flat fee structure for Mackenzie, series PWF2 and series E of all funds will be re-designated into series F to create one fee-based series with level management and administration fees.
The lower and simplified pricing structure will be available to investors June 1, 2018. For detailed information, including fee schedules, visit mackenzieinvestments.com/pricing2018. Upon implementation of these changes the annualized impact on Mackenzie’s $56 billion in mutual fund assets is expected to be approximately 2 basis points5.
Proposed mergers to streamline and strengthen product shelf
Mackenzie is also streamlining its product shelf with a number of proposed mergers to make it easier for investors to navigate. Of the following proposed 13 mergers, 10 are subject to approval by the investors of those funds. Investors of record as of April 23, 2018 will receive a notice of meeting prior to a special meeting of investors held on or about June 22, 2018.
The proposed mergers (to be implemented on or about July 6, 2018) are: