Mackenzie launches new international dividend fundBy The IJ Staff | October 16 2019 11:27AM
Mackenzie Investments is launching a new international dividend fund, the Mackenzie International Dividend Fund, to provide investors with access to high-quality, dividend-paying companies outside of Canada and the United States. The fund is designed to help investors diversify their holdings geographically.
“We believe this fund is an excellent option for investors seeking a core strategy to diversify their portfolio while accessing leading international companies,” says Mackenzie Investments senior vice president and head of products, Michael Schnitman. He adds that nearly 40 per cent of the world’s equity opportunities exist outside of North America.
According to the fund’s prospectus, the global equity fund invests primarily in equity securities of companies anywhere in the world, outside of the U.S. and Canada, which pay, or are expected to pay dividends. The fund may also invest in other types of securities that are expected to distribute income. Mackenzie says the fund will generally not invest more than 25 per cent of its assets in emerging markets. The fund is designed for investors seeking a medium-risk, income-oriented international equity fund. The fund is designed to be a medium to long-term holding. Annual management fees range from 0.8 per cent to two per cent. Administration fees range from 0.15 per cent to 0.31 per cent. Trailing commissions range from 0.25 per cent to one per cent.