Mackenzie Financial Corp. is launching the new Series T options on a select number of its existing flagship mutual funds. The new series options will be available starting today.

A new Series T option will now be available on three core equity funds in the Mackenzie lineup: Mackenzie Cundill Canadian Security Fund, Mackenzie Ivy Canadian Fund and Mackenzie Ivy Foreign Equity Fund.

Mackenzie Series T, with these new additions, now consists of 18 funds, each structured to pay a monthly distribution at an annualized rate of 8% based on calendar year-end net asset value (NAV). This amount may be adjusted annually. Series T distributions are made up, in part, of return of capital, which is not taxable in the current year. Instead, ROC reduces the adjusted cost base, thus deferring taxes until such time as the investment is sold. Investors therefore receive a regular tax-efficient cash flow without redeeming units and without triggering personal capital gains.

“Our Series T funds are suitable for investors seeking tax-deferred cash flow,” said David Feather, president, Mackenzie Financial Services. “And we’re pleased to expand the choice to include the series on three more well-known, conservative equity funds.”

The Series T will be launched with a $15 NAV, with the first 10¢ monthly distribution to be paid on April 27. They will be available for sale on a front-end, back-end and low-load basis.

Along with expanding its Series T lineup, Mackenzie is expanding its Series T-style option for investors in dealer-sponsored fee-for-service or wrap programs.

Called Series P, the option has been available since December 2005 on Mackenzie Cundill Canadian Balanced Fund and Mackenzie Ivy Growth & Income Fund. Starting today, Series P is available on all Mackenzie funds available in Series T, with the exception of Keystone Balanced Portfolio Fund, Keystone Balanced Growth Portfolio Fund, Keystone Diversified Income Portfolio Fund and Keystone Conservative Portfolio Fund.