Mackenzie expands its fund family

Toronto-based Mackenzie Financial Corp. has added two new funds to its lineup: Mackenzie Strategic Bond Fund and Mackenzie Floating Rate Income Fund. Mackenzie Strategic Bond Fund seeks to provide a steady flow of income by investing primarily in Canadian government and corporate fixed-income instruments and asset-backed securities with maturities of more than one year. Mackenzie Floating Rate Income Fund seeks to generate current income by investing mainly in floating-rate debt obligations of issuers located anywhere in the world. Advisor commissions are 0%-5% for front-end sales, 5% for deferred sales and 2.5% for the low-load option. Redemption fees begin at 5.5% in Year 1 and end at zero after Year 7 for the regular DSC schedule; or begin at 3% in Year 1 and end at zero after Year 3 of the low-load schedule. Trailing commissions for Mackenzie Strategic Bond Fund are 0.25% for the first seven years of deferred and low-load sales, and 0.55% thereafter; for Mackenzie Floating Rate Income Fund, they are 0.3% for the first seven years of deferred and low-load sales, and 0.65% thereafter. Management fees for Mackenzie Strategic Bond Fund are 1.4% for A-class units and 0.6% for F-class units; for Mackenzie Floating Rate Income Fund, management fees are 1.6% for A-class units and 0.75% for F-class units. Minimum investment is $500.

Compiled by Clare O’Hara (cohara@investmentexecutive.com).