Mackenzie seeks alternatives

Toronto-based Mackenzie Financial Corp. recently announced the launch of Mackenzie Diversified Alternatives Fund. This fund provides unitholders with exposure to alternative asset classes, such as real estate, infrastructure, emerging-markets debt, micro-cap equities, high-yield securities, foreign currencies, preferred shares and commodities. The fund also provides access to an absolute-return strategy through investment in Mackenzie Unconstrained Fixed Income Fund. Advisor commissions are 0%-5% for front-end sales, 5% for deferred sales, 1% for the low-load 2 option or 2.5% for the low-load 3 option. Redemption fees begin at 5.5% in Year 1 and end at zero after Year 7 for the regular DSC schedule; begin at 2% in Year 1 and end at zero after Year 2 of the low-load 2 schedule; or begin at 3% in Year 1 and end at zero after Year 3 of the low-load 3 schedule. Trailing commissions are 1% for front-end sales; 0.5% for the first seven years of deferred sales, and 1% thereafter; 0.5% for the first two years of low-load 2 sales, and 1% thereafter; and 0.5% for the first three years of low-load 3 sales, and 1% thereafter. Management fees are 1.85% for A-class units and 0.85% for F-class units. Minimum investment in the new fund is $500.

(fcollie@investmentexecutive.com)