Mackenzie launches investment pools for wealthy clientspar Andrew Rickard | December 16 2015 09:45AM
Mackenzie Investments has created eight pooled investment funds for those able to make a minimum initial investment of $150,000.
Mackenzie says that each of its Private Wealth Pools is made up of core asset classes and takes a multi-manager approach. The fixed income and balanced pools maintain an overall investment grade credit quality, while the equity pools with US exposure use a low-volatility strategy to minimize the effect of market corrections.
The pooled funds have lower management fees than regular retail mutual funds, and four of them also provide greater tax efficiency through a corporate class structure. In addition, the balanced funds pay a 4% fixed annual distribution. The fixed income and equity pools have a 5% fixed rate distribution series available.
When households have $250,000 worth of eligible assets with Mackenzie, the fund manager says it is prepared to waive the $150,000 minimum initial investment requirement.
The new funds are:
- Mackenzie Private Canadian Money Market Pool
- Mackenzie Private Global Fixed Income Pool
- Mackenzie Private Global Conservative Income Balanced Pool
- Mackenzie Private Global Income Balanced Pool
- Mackenzie Private Income Balanced Pool
- Mackenzie Private Canadian Focused Equity Pool
- Mackenzie Private U.S. Equity Pool
- Mackenzie Private Global Equity Pool
"These institutional-style investment pools offer a wide range of investment options that include capital preservation, balanced and growth, all designed to give high net worth investors an attractive combination of risk and return," comments Michael Schnitman, senior vice president of product at Mackenzie Investments.