Toronto-based Mackenzie Financial Corp. announced on Monday that it’s making changes to the management fees and dealer compensation on several mutual funds, which will come into effect on Jan. 3.
Three products within the firm’s Symmetry Portfolio lineup will see a decrease to their management fees and dealer compensation.
In addition, 20 other mutual funds that include the firm’s “low-load 2” sales charge purchase options will see their level of dealer compensation increased, although there will be no changes to the management fees on these particular funds, the firm’s announcement notes.
The asset-management firm also plans to automate the conversion of securities that are no longer subject to a redemption fee under the deferred sales charge and low load purchase options to the sales charge purchase option. Conversions will begin Dec. 30 and continue the second Friday of every month thereafter.
The move is designed to “provide greater transparency to investors regarding their matured securities that are free of redemption fees,” Mackenzie’s announcement states.
Full details regarding the changes in fees and the affected products can be found through the firm’s announcement.
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