The firm also announced other changes to other fund products
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Mackenzie Investments has lowered the minimum investment amounts required for its private wealth pools.
The Mackenzie Private Wealth Pools consist of eight unique long-term strategic mandates managed by professionals from Mackenzie's investment boutiques. Starting Sept. 29, the minimum initial investment required for all the pools will be reduced from $150,000 to $100,000. For households that have assets above $250,000 with Mackenzie, this minimum is waived.
Investment-strategy and portfolio-management changes have also been announced for the following six pools:
The above pools’ strategies will be changed to include active currency management for the total portfolio and dedicated tactical asset allocation to take advantage of market opportunities.
Also effective Sept. 29, Alain Bergeron, senior vice president and head of the Mackenzie Asset Allocation Team, will become lead manager of the funds. He will share the responsibility with Andrea Hallett, vice president and portfolio manager of the Mackenzie Asset Allocation Team.
The firm also announced changes to its other fund offerings. Due to a new risk-classification methodology mandated by the Canadian Securities Administrators (CSA), it’s changing risk ratings for 16 funds, including the Mackenzie Cundill Recovery Class (from “medium to high” to “high”), the Mackenzie International Growth Fund (from “low to medium” to “medium”), and the Mackenzie Monthly Income Balanced Portfolio (“low to medium” to “low”).
Finally, Mackenzie announced the following new annual distribution rates effective Sept. 29:
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The Mackenzie Private Wealth Pools consist of eight unique long-term strategic mandates managed by professionals from Mackenzie's investment boutiques. Starting Sept. 29, the minimum initial investment required for all the pools will be reduced from $150,000 to $100,000. For households that have assets above $250,000 with Mackenzie, this minimum is waived.
Investment-strategy and portfolio-management changes have also been announced for the following six pools:
- Mackenzie Private Global Conservative Income Balanced Pool
- Mackenzie Private Global Income Balanced Pool
- Mackenzie Private Income Balanced Pool (also available in Corporate Class)
- Mackenzie Private Canadian Focused Equity Pool (also available in Corporate Class)
- Mackenzie Private US Equity Pool (also available in Corporate Class)
- Mackenzie Private Global Equity Pool (also available in Corporate Class)
The above pools’ strategies will be changed to include active currency management for the total portfolio and dedicated tactical asset allocation to take advantage of market opportunities.
Also effective Sept. 29, Alain Bergeron, senior vice president and head of the Mackenzie Asset Allocation Team, will become lead manager of the funds. He will share the responsibility with Andrea Hallett, vice president and portfolio manager of the Mackenzie Asset Allocation Team.
The firm also announced changes to its other fund offerings. Due to a new risk-classification methodology mandated by the Canadian Securities Administrators (CSA), it’s changing risk ratings for 16 funds, including the Mackenzie Cundill Recovery Class (from “medium to high” to “high”), the Mackenzie International Growth Fund (from “low to medium” to “medium”), and the Mackenzie Monthly Income Balanced Portfolio (“low to medium” to “low”).
Finally, Mackenzie announced the following new annual distribution rates effective Sept. 29:
| Fund | Series | New Fixed Rate Effective September 29 |
| Mackenzie USD Global Strategic Income Fund | A, D, F, FB, PW, PWF, PWFB, PWX | 5% |
| Mackenzie Global Strategic Income Fund | A, FB, PW, PWFB | 5% |
| Mackenzie Strategic Income Fund | FB, PWFB | 6% |
| Mackenzie Income Fund | FB, PWFB | 5% |
| Mackenzie Monthly Income Balanced Portfolio | D, O | 4% |
| Mackenzie Monthly Income Conservative Portfolio | D, O | 4% |
For more of Wealth Professional's latest industry news, click here.
Related stories:
Capital management firm introduces flat management fee
Sun Life announces mutual-fund changes
