Fund Series Overview

At Mackenzie Investments, we believe in transparency. Our fund-series structure is designed to give advisors flexibility and clarity.  Each series is designed to meet the needs of different investors, depending on account type, service model and investment size. Below is a breakdown of the different series available, who they are designed for and how our fees are determined.
 

Retail embedded series

Embedded series include advisor compensation directly within the fund’s management fee. These are the most common retail fund structures. An advisor’s commission or trailer fee is built into the fund’s expenses and automatically paid from the management fee. This approach is convenient for investors who prefer all costs reflected in one figure, and who do not pay their advisor separately.

• Series A – for retail investors investing at least $500.
• Series SC – for retail investors investing $500 or more for select fixed income funds.

Dealer fee based

• Series F – for retail investors in dealer-sponsored fee-based or wrap programs. Mackenzie’s series F has embedded management and admin fees. The advisory fee is established and collected by the dealer, Mackenzie does not administer the advisory fee; minimum $500 investment.

Income options

• Series T5 and T8 – annualized monthly cash flow of 5% for T5 and 8% for T8.
• Series F5 and F8 – fee-based versions of T-series with a minimum $5,000 investment.
   

Retail non-embedded series

Non-embedded series separate the advisor’s service fee from the fund’s management fee. Investors negotiate their advisor fee directly (capped at 1.50% at Mackenzie) and pay it directly outside the fund. The fund’s management fee is lower because it does not include built-in advisor compensation, giving investors and advisors more flexibility.

• Series FB – for retail investors ($500 minimum); negotiated advisor fee (maximum 1.50%).
   

Private Wealth (PW) series

Preferred pricing service designed to ensure that an investor automatically benefits from reduced costs, once their investments at the individual or household level with Mackenzie reach $100,000.

• Series PW – for investors with at least $100,000 (individually or household).
• Series PWT5 and PWT8 – annualized monthly cash flow of 5% for PWT5 and 8% monthly cash flow for PWT8, with the same $100,000 minimum.
   

Non-embedded Private Wealth series

• Series PWFB and PWX – for investors with at least $100,000; negotiated advisor service fee (maximum 1.50%). PWFB has embedded management fees with advisor fees collected via redemption of units. For PWX, both management and advisor fees are collected via redemption of units.
• Series O – for investors with a minimum of $500,000 or more, who are enrolled in Mackenzie Private Wealth’s Portfolio Architecture or Open Architecture Service; $5 million per fund for retail investors, and institutional investors.

Income options

• Series PWFB5 and PWX8 – for investors ($100,000 minimum) seeking 5% for PWFB5 or 8% monthly cash flow for PWX8; negotiated advisor fee (maximum 1.50%).
   

Learn more about Mackenzie’s Preferred Pricing >

Special series

These series are unique to specific programs or account types.

• RDSP Series AR, FR and PWR – Series AR for investors using a Registered Disability Savings Plan; Series FR for fee-based or wrap accounts. PWR is available to investors with $100,000 minimum.
• Group plans – Series G and I – for investors in employer or group investment plans.
• Dollar-cost averaging – Series DA and DF – for Mackenzie’s One-Step DCA Service; Series DF for fee-based or wrap accounts.
• Series D – for self-directed investors ($500 minimum) using discount brokerages or approved accounts.
   

Next steps

1. Evaluate which series is appropriate based on the client and account type.
2. Review each fund’s simplified prospectus for the specific series that is being considered.
3. Monitor assets with investment growth: tiered or preferred pricing series can be considered.
4. Stay informed: fees and series definitions can change; it is important to stay current on terms.

Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated.

The content of this web page (including facts, views, opinions, recommendations, descriptions of or references to, products or securities) is not to be used or construed as investment advice, as an offer to sell or the solicitation of an offer to buy, or an endorsement, recommendation or sponsorship of any entity or security cited. Although we endeavour to ensure its accuracy and completeness, we assume no responsibility for any reliance upon it.