Mackenzie announces new pricing structure

Mackenzie Investments has announced a new simplified and more accessible pricing structure that will result in some fee reductions for investors.

For investors in fee-based series — which include Series F, F5, F6, F8, PWF, PWF5, PWF6, and PWF8 — Mackenzie is eliminating Private Wealth series; at the same time, it is reducing fees so that the same management and administration fee will be offered for all account sizes.

As for series with embedded dealer compensation, Mackenzie is simplifying Private Wealth series pricing to eliminate rebating. It will also align management and administration fees (net of dealer compensation) with the fee-based series.

The changes will result in lower fees for most investors in Series F and Private Wealth series; no investor will experience a fee increase. In addition, the minimum eligibility requirement for Private Wealth Series — with the exception of Private Wealth Pools — will be lowered from $250,000 to $100,000 per household.

“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,” said Barry McInerney, president and CEO, Mackenzie Investments. “This clarity also makes it easier for the advisors and dealers who work with our solutions.”

Within the new flat-fee structure, series PWF and series E of all funds will be re-designated into series F. The new structure will be available to investors starting on June 1.

The firm also announced 13 proposed mergers, 10 of which are subject to approval by investors. The firm is also looking to change the investment objectives of its Mackenzie Income Fund and Mackenzie Short-Term Income Fund to fully capitalize on its fixed income capabilities.

The mergers and investment objective changes will be subject to a vote in a special meeting of investors, which is expected to occur on or about June 22.