Mackenzie Investments announced on Sept. 28 a new flat fee structure for all Preferred Pricing within the Laurentian Bank Group of Funds offering.
Mackenzie says as a result of these changes, most investors in those Preferred Pricing series will receive lower fees and no investors’ fees will increase.
The minimum eligibility requirement for the series is now $100,000 per household, down from $250,000. This is applicable to all funds other than the Mackenzie Private Wealth Pools.
The new pricing structure will be available to investors on or around Nov. 23. In addition, as of Jan. 1, series LW6 will be renamed series LW5 and the fixed rate distribution on that series, and other series with a 6 per cent fixed rate distribution, will change to a 5 per cent fixed rate distribution.