As a result of a comprehensive retail pricing review, Mackenzie Financial Corp. (Mackenzie Investments) Wednesday announced changes designed to simplify and enhance its approach to the retail pricing of its mutual funds.
“Mackenzie Investments has been transforming to meet the changing needs of advisors and investors,” said Jeff Carney, president and CEO. “Our new strategy delivers a simpler approach to pricing and more competitive fees.”
“Last year we revitalized our product offer, creating a streamlined, more relevant lineup of funds and now the momentum continues,” he added. “By simplifying our pricing, we are making it easier for advisors and investors to do business with us and we have reduced fees on certain funds.”
As part of these pricing changes, Mackenzie has aligned management fees within the income and balanced asset class categories resulting in fee reductions to 13 mutual funds. The decreases range from 15 to 25 basis points (100 basis points equals one percentage point) on these funds.
Mackenzie has also lowered fixed rate annual administration fees on many Series A, C, SC and T funds to align the rates applied within each asset class.
In addition, administration fees have been lowered on Mackenzie’s entire offering of Series F mutual funds. Series F funds are available to retail investors who are enrolled in a dealer-sponsored fee-for-service or wrap program. As fee-based advice is increasingly adopted, this administration fee reduction on all Series F funds will give investors and their advisors increased access to a competitively priced, well-diversified suite of investment strategies on the fee-based platform, Mackenzie says.
These changes were effective on September 29.
Detailed information including on the fee changes can be found at www.mackenzieinvestments.com/mer.