Mackenzie Investments is changing the distributions for the Mackenzie Monthly IncomeDynamic (Income) Balanced Portfolio and Mackenzie Monthly Income Conservative Portfolio.
Each series of the portfolios that historically made a variable monthly distribution of net income will now pay a fixed annual distribution of 4% of the portfolio’s annual net asset value to be paid monthly, starting October 31.
The fixed monthly distributions will consist of net income to the extent applicable. Any amounts in excess will consist of return of capital.
Effective mid to late September 2015, asset allocations to the portfolios will shift with equity weightings rising to aim to deliver more income by way of dividend yield and capital gain. Mackenzie Monthly Income Balanced Portfolio will shift from about 40% equities and 60% fixed-income mix to approximately 60% equities and about 40% fixed- income mix.
Mackenzie Monthly Income Conservative Portfolio will shift from about 20% equities and 80% fixed-income mix to approximately 40% equities and about 60% fixed-income mix.
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