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Mackenzie lowers pricing on 14 ETFs and 7 mutual funds while adding tiered pricing for RDSP accounts

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:

Mackenzie ETF Ticker Current management fee New management fee
Mackenzie Core Plus Canadian Fixed Income ETF MKB 0.55% 0.40%
Mackenzie Floating Rate Income ETF MFT 0.65% 0.60%
Mackenzie Global High Yield Fixed Income ETF MHYB 0.65% 0.60%
Mackenzie Unconstrained Bond ETF MUB 0.55% 0.50%
Mackenzie Canadian Short Term Fixed Income ETF MCSB 0.49% 0.35%
Mackenzie Global Leadership Impact ETF MWMN 0.60% 0.55%
Mackenzie Ivy Global Equity ETF MIVG 0.85% 0.75%
Mackenzie Portfolio Completion ETF MPCF 0.60% 0.45%
Mackenzie Maximum Diversification Canada Index ETF MKC 0.60% 0.45%
Mackenzie Maximum Diversification US Index ETF MUS 0.60% 0.45%
Mackenzie Maximum Diversification Developed Europe Index ETF MEU 0.60% 0.50%
Mackenzie Maximum Diversification All World Developed Index ETF MWD 0.60% 0.50%
Mackenzie Maximum Diversification All World Developed ex North America Index ETF MXU 0.60% 0.50%
Mackenzie Maximum Diversification Emerging Markets Index ETF MEE 0.60% 0.50%

Lower pricing on seven mutual funds

Effective immediately, Mackenzie lowers management fees on these seven mutual funds by 0.05%:


Current management fees

New management fees

  Series PW Series F, PWFB and PWX Series PW Series F, PWFB and PWX
Mackenzie Canadian Money Market Fund 0.65% 0.40% 0.60% 0.35%
Mackenzie Canadian Short Term Income Fund 0.95% 0.45% 0.90% 0.40%
Mackenzie Canadian Bond Fund 1.00% 0.50% 0.95% 0.45%
Mackenzie Strategic Bond Fund 1.00% 0.50% 0.95% 0.45%
Symmetry Fixed Income Portfolio 1.00% 0.50% 0.95% 0.45%
Mackenzie Investment Grade Floating Rate Fund 1.05% 0.55% 1.00% 0.50%
Mackenzie Global Tactical Investment Grade Bond Fund 1.05% 0.55% 1.00% 0.50%

* Series include all fixed rate distribution series equivalents. No changes to admin fees or trail where applicable.

1The high-water mark is how Mackenzie determines eligibility for preferred pricing. It is the highest peak in value that a fund or account has reached since the preferred pricing implementation date (April 2017). While market value increases and additional purchases increase your high watermark, market value decreases will not decrease your high watermark. Redemptions from your account will decrease your high watermark (except redemptions from Charitable Giving Accounts, RDSPs and RRIFs, including LIFs, LRIFs, PRIFs and RLIFs).

About Mackenzie Investments

Mackenzie Investments was founded in 1967, and is a leading investment management firm providing investment advisory and related services. With $142.3 billion in assets under management as of August 31, 2018, Mackenzie Investments distributes its investment services through multiple distribution channels to both retail and institutional investors. Mackenzie Investments is a member of the IGM Financial Inc. (TSX: IGM) group of companies. IGM Financial is one of Canada's premier financial services companies with $161.1 billion in total assets under management as of August 31, 2018.

For further information, please contact:

Trish Tervit
Director, Communications and Media Relations
Mackenzie Investments