Mackenzie Investments today announced the immediate availability of its newest balanced fund: Mackenzie Founders Income & Growth Fund.

The new fund offers a fixed monthly distribution and aims to achieve income and long-term capital growth by investing in a diverse portfolio of Mackenzie sponsored equity and fixed income funds.

“Over the past few years, the demand for investments that deliver reliable monthly income has grown dramatically. More recently, Canadians have been seeking global exposure as well,” saysDavid Feather, president, Mackenzie Financial Services Inc. “Mackenzie Founders Income & Growth Fund meets both these objectives and more. With a single purchase of this fund, investors receive a professionally managed investment that provides exposure to various regions, asset classes and investment styles, as well as steady income and automatic rebalancing.”

Mackenzie Founders Income & Growth Fund includes 60% equity and 40% fixed income investments. The equity component invests in the original founding fund of four of Mackenzie’s unique brands: Mackenzie Growth Fund, Mackenzie Cundill Value Fund, Mackenzie Maxxum Dividend Fund and Mackenzie Ivy Foreign Equity Fund, while the fixed income component is split equally between Mackenzie Sentinel Bond Fund and Mackenzie Sentinel Corporate Bond Fund.

“Mackenzie Founders Income & Growth Fund offers a variety of income options so investors can customize their monthly income stream to meet their financial needs,” says Feather. “Investors can choose to receive 5%, 6% or 8% a year, paid monthly, as they see fit.”

Series A, F and I units pay a monthly distribution equal to 5% per year. U.S. dollar versions for Series A and F available.

Series T6 units provide tax-efficient monthly income of 6% annually.

Series P and T8 units provide tax-efficient monthly income of 8% annually.

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Mackenzie will automatically rebalance the funds with cash flows to help ensure the allocations remain within specified ranges across the six funds.