Mackenzie Sentinel Income Trust Fund is the latest addition to the roster of funds offered by Mackenzie Financial Corp. The fund will invest in income trusts, business trusts, royalty and resources trusts, real estate investment trusts, utilities and infrastructure trusts. “My philosophy is to have exposure to all parts of the income trust market,” says Dan Bastasic, lead portfolio manager and vice president of investments at Toronto-based Mackenzie. Bastasic also manages the more conservative Mackenzie Sentinel High Income Fund, which invests in cash and cash alternatives as well as in income trusts. “But a lot of investors are looking for 100% exposure to the income trust market, and we want to give them another option,” he says. Front- and back-end commissions are 5%, or 2.25% for low-load sales. Redemption fees begin at 5.5% in Year 1 and run to zero after Year 7 of the DSC schedule, or are 3% in Year 1 and zero after Year 3 of the low-load schedule. Trailing commissions are 1% for units purchased on the front-end sales-charge option, 0.5% for DSC sales or 0.5% in the first three years of the low-load option and 1% thereafter. Management fees are 1.85%, or 0.85% for F-class shares. Minimum investment is $500.
Mackenzie introduces income trust
- By: Lara Hertel
- January 27, 2006 October 30, 2019
- 15:54