Income on your terms
As circumstances change, so do the cash flow needs of investors. With Mackenzie Investments’ Flexible Payout Service (FPS) investors can receive a predictable, customizable and tax-efficient cash flow from their investments.
Here's how it works
Investors select a fund series that pays a regular monthly distribution at a fixed percentage rate (e.g. Series T6). They then choose to receive the cash payout in either:
- A specific dollar amount (e.g., $500/month) or
- At a percentage rate (e.g., 3.5%)
If the amount chosen is less than the regular amount distributed by the fund series, the remaining cash will be automatically reinvested.
Using Mackenzie Investments’ Flexible Payout Service
- Flexible Payout Service can be used in a nominee account, in a Mackenzie Investments-administered non-registered account, and in a Mackenzie Investments-administered TFSA.
- Monthly distributions on corporate class funds will generally be all return of capital, which are not taxable.
- Cash payouts at a rate that exceeds the rate of return on an investment will decrease the value of the investment.
Uncover your needs
Talk to your financial advisor to see how Mackenzie Investments’ Flexible Payout Service can work for you.
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. You may use the Flexible Payout Service on Fixed Rate Distribution Securities, unless you purchased these securities under the group fee option. For a complete list of Fixed Rate Distribution Securities, refer to the simplified prospectus for the Mackenzie funds. No matter what monthly cash payout preference you specify on a particular type of Fixed Rate Distribution Securities, the monthly cash payout that you receive cannot exceed the amount distributed on the securities. Therefore, the monthly cash payout that you receive may be less than your monthly cash payout preference. Any portion of a distribution that is not paid to you in cash will be reinvested. If the amount to be reinvested is less than the net asset value per security for the Fixed Rate Distribution Securities on which you received the distribution, it will not be reinvested; instead, the entire amount of the distribution will be paid to you in cash. Instructions that you provide to Mackenzie through the Flexible Payout Service will override any other instructions that you have provided about the payment of the distributions.