TORONTO – October 1, 2018 – Mackenzie Investments strengthened its pricing commitment today for investors by further enhancing and simplifying its pricing structure and announcing additional fee reductions.
“It’s incredible to think that in just two and a half years our ETF shelf has grown so rapidly that we are quickly approaching $3 Billion in AUM, leading us to become the 8th largest ETF provider in the country,” said Barry McInerney, President and Chief Executive Officer, Mackenzie Investments. “Today, we are furthering our leadership position by lowering prices on 14 Exchange Traded Funds and further decreasing prices on seven mutual funds.”
Preferred pricing for RDSP accounts
In today’s pricing announcements, Mackenzie will launch a tiered pricing series for RDSP investors. Beginning April 1, 2019, and the second Friday of every month thereafter, qualified households with a minimum of $100,000 with Mackenzie will be automatically switched into Series PWR.“RDSPs have always been an important part of Mackenzie’s business,” added McInerney. “Years ago, we became the only independent fund company to offer RDSPs. Since then we have increased the number of investment options available and our next step forward is to extend our tiered pricing service to RDSPs.”
Preferred pricing accessible to investors at $100,000
Earlier this year, Mackenzie lowered the minimum eligibility requirement for its preferred pricing on the Private Wealth Series from $250,000 to $100,000 per household, making the pricing more accessible to investors and more competitive. Households who reach a high-water mark1 of $100,000 are automatically switched to a series with lower management fees.To complete the program’s automation, effective January 2, 2019, if the high-water mark1 of a household enrolled in a preferred pricing series falls below the minimum eligibility requirement, the holdings will switch to an equivalent retail series. Investors can top up their investment back to the $100,000 minimum anytime to lower their cost of investing and take advantage of the many benefits of Mackenzie’s Private Wealth Solutions.
Lower pricing on 14 ETFs
The following lower pricing on ETFs will be implemented on or about October 12, 2018: