|
Mackenzie Financial to Beat Operating Expenses on Funds
|
Can't Post
|
|
Mackenzie Financial proposes to change its method of charging operating expenses to each of the Mackenzie funds, resulting in lower expenses for investors and greater fee predictability and increased transparency once implemented.
Beginning August 1, 2007, assuming approval, Mackenzie will bear all of the operating expenses of the Mackenzie funds other than GST and certain specified fund costs(1) in return for fixed rate administration fee established for each fund. Each fund's management expense ratio will consist of the fund management fee, the proposed fixed rate administration fee, GST and other fund costs, expressed as a percentage of the fund's average net assets for the year.
The fixed administration fee will replace the current method under which expenses are charged or allocated to the Mackenzie funds. Under the proposal, the fixed rate administration fee will range from 0.14% to 0.31% of the respective funds assets under management, depending on the fund and its investment objectives. The fee will be 0.14% to 0.20% for money market and fixed income funds, 0.21% to 0.24% for balanced and domestic equity funds, and 0.24% to 0.31% for U.S., global and specialty equity funds.
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.
Join the Economics Community!
|
Barry
Mr. Do It All
Jun 19, 2007, 7:04 PM
Post #1 of 1
(265 views)
|
