Mackenzie Investments lowers management fees, automates conversions

Effective January 3, 2017, Mackenzie Investments will reduce the management fees and lower the dealer compensation on three Symmetry portfolios. Concurrent with this change, dealer compensation on the low-load 2 sales charge purchase option will increase on certain funds; there will be no changes to the management fees on these funds.

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Lower management fees on Symmetry portfolios

This change is the result of aligning dealer compensation with the compensation generally paid in the industry for funds in the balanced and equity categories.

The following changes will be made for Series A, AR, T6 and T8 units:

Fund name	Current dealer compensation	New dealer compensation	Current management fee	New management fee
Symmetry Moderate Growth portfolio/class	1.25%	1.00%	2.10%	1.85%
Symmetry Growth portfolio/class	1.25%	1.00%	2.25%	2.00%
Symmetry Equity portfolio/class	1.25%	1.00%	2.25%	2.00%

The dealer compensation of all purchase options of Series A, AR, T6 and T8 will decline by 0.25%, with the exception of the GFO purchase option, where dealer compensation will decline by 0.19%. Management fees of Series A, AR, T6 and T8 will decline by 0.25%.

Dealer compensation and management fees of Series G and I will also decline by 0.25%.

Higher dealer compensation on low load 2 funds

These changes will not result in any changes to fund management fees, and are being made to align with the dealer compensation generally paid in the industry for funds sold under low-load purchase options.

Fund category	Fund name	LL2 current dealer compensation	LL2 new dealer compensation
Fixed income funds	Mackenzie Canadian Bond Fund	0.25%	0.50%
	Mackenzie Floating Rate Income Fund	0.30%	0.50%
	Mackenzie Global Tactical Bond Fund	0.30%	0.50%
	Mackenzie Global Tactical Investment Grade Bond Fund	0.30%	0.50%
	Mackenzie Investment Grade Floating Rate Fund	0.25%	0.50%
	Mackenzie North American Corporate Bond Fund	0.30%	0.50%
	Mackenzie Strategic Bond Fund	0.25%	0.50%
	Mackenzie Unconstrained Fixed Income Fund	0.30%	0.50%
	Mackenzie USD Global Tactical Bond Fund	0.30%	0.50%
	Mackenzie USD Ultra Short Duration Income Fund	0.20%	0.25%
Balanced funds	Mackenzie Income Fund	0.25%	0.50%
Balanced funds	Mackenzie USD Global Strategic Income Fund	0.50%	1.00%
Managed asset portfolios	Mackenzie Monthly Income Balanced Portfolio	0.50%	1.00%
	Mackenzie Monthly Income Conservative Portfolio	0.40%	0.75%
	Symmetry Conservative Income Portfolio	0.40%	0.75%
	Symmetry Conservative Income Portfolio Class	0.40%	0.75%
	Symmetry Conservative Portfolio	0.50%	1.00%
	Symmetry Conservative Portfolio Class	0.50%	1.00%
	Symmetry Fixed Income Portfolio	0.35%	0.50%
Alternative	Mackenzie Diversified Alternatives Fund	0.50%	1.00%

Matured security conversions

Beginning Friday, December 30, 2016, and on the second Friday of every month thereafter, Mackenzie Investments will automate the conversion of most matured securities to the front-end purchase option of the same fund. This will provide greater transparency to investors regarding their matured securities that are free of redemption fees.

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Also read: Here’s what you pay: Explain services and fees to clients