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With our prospectus renewal on Friday, September 28, we are enhancing our product offerings to make it easier to navigate our product shelf.
This will result in the following changes:
Launch of Mackenzie Global Environmental Equity Fund
On October 17, we will be expanding our sustainable investment lineup by launching the Mackenzie Global Environmental Equity Fund.
Please refer to the attached document for the fund code details. Additional details can be found in the FD file which will be available October 12 through Fundserv with an effective date of October 17.
Series Hard Capping of Emerging Markets Class
To achieve consistency and optimize the tax efficiency of Mackenzie’s corporate class shelf we are capping the unbundled series, PWX and O, of Mackenzie Emerging Markets Class effective September 28.
Existing unitholders will be unable to purchase new units and only redemptions and systematic out transactions will be allowed.
Please refer to the attached document for the fund code details. Additional details can be found in the FD file which was made available through Fundserv with an effective date of September 28.
Hard capping of Mackenzie Global Dividend Fund, Series T6 and PWT6
Effective September 28, series T6 and PWT6 on Mackenzie Global Dividend Fund will be capped to new investments. Existing unitholders will continue to receive their 6% payout annually; however they will not be able to purchase new units.
Please refer to the attached document for the fund code details. Additional details can be found in the FD file which was made available through Fundserv with an effective date of September 28.
Lower fees on 7 Mutual funds
Effective September 28, Mackenzie will lower management fees on these seven mutual funds by 0.05% for Series F, PW, PWFB, PWX, and all related fixed rate distribution series:
- Mackenzie Canadian Money Market Fund
- Mackenzie Canadian Short Term Income Fund
- Mackenzie Canadian Bond Fund
- Mackenzie Strategic Bond Fund
- Symmetry Fixed Income Portfolio
- Mackenzie Investment Grade Floating Rate Fund
- Mackenzie Global Tactical Investment Grade Bond Fund
Please refer to the attached document for the fund code details. Additional details can be found in the FD file which will be available through Fundserv with an effective date of September 28.
The following optional service changes will become effective October 24th or later:
Guided Portfolio Service on RESPs:
The Guided Portfolio Service (automatic rebalancing), will now be offered on all account types and will be expanded to include RESPs.
Systematic DSC to Fee-for-service Switches:
Mackenzie will be making it easier for you to transition to fee-based. Currently, as back-end units in bundled series mature, they are rolled over to front-end units or Series PW if the investor qualifies for preferred pricing, using our Matured units auto-conversion or Preferred Pricing Service, respectively.
As of October 26, 2018, we will be introducing an option for the two services that automatically rolls over matured back-end units to a fee-based series of choice, on the second Friday of every month to alleviate the administrative burden and excessive transactions. To enroll in this service, dealers and advisors need to provide a completed and signed Client Authorization Agreement for the qualifying investor accounts.
These fund company initiated transactions will appear as 5/1/J and 6/1/J in the TS file.
Expanding one-step DCA:
One-step Dollar Cost Averaging (DCA) will now be included on our high diversification funds and ETF portfolios. As a result, new fund codes will be launched to facilitate this expansion.
Please refer to the attached document for the fund code details. Additional details can be found in the FD file which will be available October 19 through Fundserv with an effective date of October 24.
Fixed Rate Distribution Enhancements:
Mackenzie will be introducing the following distribution changes as part of our commitment to achieve a consistent and relevant product shelf:
› Consistent 5% and 8% distribution
Effective October 24, Mackenzie will expand the list of funds offering a fixed rate distribution series.
Starting in January 2019, Mackenzie will provide only two options of series T5 and series T8 to maintain a consistent fixed payout series offering.
Please refer to the attached document on distribution changes for the fund code details. Additional details can be found in the FD file which will be available October 19 through Fundserv with an effective date of October 24.
› Existing T6s to be renamed to T5
Effective January 2, 2019, all existing T6s and similar fixed rate distribution series (i.e. F6, PWT6) will be renamed to T5 and have their distribution rate changed to 5%.
A detailed communication will be sent closer to the effective date.
› Mackenzie Strategic Income Fund to lower distribution rate
Effective January 2, 2019, Mackenzie Strategic Income Fund will have its distribution rate lowered on Series’ A and F from 6% to 5% to align with other balanced income funds.
A detailed communication will be sent closer to the effective date.
Preferred Pricing Service Enhancements:
› PPA Rollback
Effective January 2, 2019, this automation will move households who no longer qualify for preferred pricing back into their initial retail equivalent series because of transactions that decrease the high-water mark.
If a household has a high-water mark that falls below $75,000, then the holdings will switch to a retail equivalent.
Mackenzie will contact impacted advisors directly by mail. The advisor mailing will go out in November 2018.
› PPS for RDSP
We are introducing Preferred pricing service on RDSP accounts. Beginning April 1, 2019, and the second Friday of every month thereafter, qualified RDSP households with a minimum of $100,000 with Mackenzie, will be automatically switched into Series PWR.
A detailed communication will be sent closer to the effective date.
For further information please contact your Dealer Relations Account Manager directly. Alternatively, call us at 1-800-268-7119 or send an email to drelations@mackenzieinvestments.com.
Thank you for your continued support of Mackenzie Investments.
The Dealer Relations Team
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