TORONTO, Sept. 25, 2023 /CNW/ - Mackenzie Investments ("Mackenzie") today announced changes to the risk rating and investment strategy of select mutual funds and ETFs, effective on or about September 29, 2023, and to the management fee of certain series of the Mackenzie Canadian Money Market Fund, effective on or about October 2, 2023.
Risk Rating Changes
Mackenzie reviews and adjusts risk ratings in accordance with the Risk Classification Methodology mandated by Canadian securities regulators. The risk rating of the following mutual funds and ETFs will change as outlined below. The changes will be effective on or about September 29, 2023.
Name of Mutual Fund or ETF | Current Risk Rating | New Risk Rating |
Mackenzie Bluewater Canadian Growth Fund | Low to Medium | Medium |
Mackenzie Canadian Dividend Fund | Low to Medium | Medium |
Mackenzie Conservative ETF Portfolio | Low | Low to Medium |
Mackenzie Conservative Income ETF Portfolio | Low | Low to Medium |
Symmetry Equity Portfolio | Low to Medium | Medium |
Mackenzie Maximum Diversification All World
Developed Index Fund | Low to Medium | Medium |
Mackenzie USD Global Dividend Fund | Low to Medium | Medium |
Mackenzie US Small-Mid Cap Growth Currency Neutral Fund | Medium | Medium to High |
Mackenzie USD US Mid Cap Opportunities Fund | Medium | Medium to High |
Mackenzie Floating Rate Income ETF | Low | Low to Medium |
Mackenzie Global High Yield Fixed Income ETF | Low | Low to Medium |
Investment Strategy Changes
A change has been made to the investment strategy of each Mackenzie Betterworld fund listed below, to remove the exclusion of companies that derive over 10 per cent of revenue from nuclear energy. The changes will be effective on or about September 29, 2023.
Fund Name | Exclusion to be Removed |
Mackenzie Betterworld Canadian Equity Fund | Nuclear energy: over 10% revenue derived from
the production, supporting products and services
or distribution of nuclear energy. |
Mackenzie Betterworld Global Equity Fund |
Mackenzie Global Sustainable Balanced Fund |
Mackenzie FuturePath Canadian Sustainable
Equity Fund |
Management Fee Changes
To deliver improved pricing to investors, Mackenzie is reducing the management fees of the Mackenzie Canadian Money Market Fund by 10 to 30 basis points. The changes will be effective on or about October 2, 2023.
Fund Name | Series | Current Management Fee | New Management Fee |
Mackenzie Canadian Money
Market Fund | PW | 0.60 % | 0.50 % |
SC | 0.75 % | 0.60 % |
C | 0.50 % | 0.35 % |
DA | 1.00 % | 0.70 % |
F | 0.35 % | 0.25 % |
DF | 0.35 % | 0.25 % |
GP | 0.50 % | 0.35 % |
G | 0.65 % | 0.50 % |
I | 0.70 % | 0.575 % |
FB | 0.50 % | 0.35 % |
PWFB | 0.35 % | 0.25 % |
AR | 1.00 % | 0.70 % |
PWR | 0.60 % | 0.50 % |
A | 1.00 % | 0.70 % |
About Mackenzie Investments
Mackenzie Investments is a leading investment management firm with $193 billion in assets under management as of August 31, 2023. Mackenzie provides investment solutions and related services to more than one million retail and institutional clients through multiple distribution channels. Founded in 1967, Mackenzie is a global asset manager with offices across Canada as well as in Boston, Dublin, London, Hong Kong and Beijing. Mackenzie is a member of IGM Financial Inc. (TSX: IGM), one of Canada's premier financial services companies with approximately $262 billion in total assets under management and advisement as of August 31, 2023. For more information, visit mackenzieinvestments.com.
SOURCE Mackenzie Investments
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English Media Inquiries: Hilary Bassett, 416-951-7558, hilary.bassett@igmfinancial.com; French Media Inquiries: Kim Tran, 514-217-1684, kim.tran@northstrategic.com