TORONTO, Sept. 4, 2015 /CNW/ - Mackenzie Financial Corporation (Mackenzie Investments) today announced upcoming enhancements to Mackenzie Monthly Income Balanced Portfolio and Mackenzie Monthly Income Conservative Portfolio (the Portfolios).
Each series of the Portfolios that historically made a variable monthly distribution of net income will now pay a fixed annual distribution of 4 per cent of the Portfolio's annual net asset value to be paid monthly, effective on or about October 31, 2015. This will allow the Portfolios to generate more predictable cash flow to these series' investors. The fixed monthly distributions will consist of net income to the extent applicable. Any amounts in excess will consist of return of capital.
Effective mid to late September 2015, asset allocations to the Portfolios will shift with equity weightings rising to aim to deliver more income by way of dividend yield and capital gain. Mackenzie Monthly Income Balanced Portfolio will shift from about 40 per cent equities and 60 per cent fixed-income mix to approximately 60 per cent equities and about 40 per cent fixed- income mix. Mackenzie Monthly Income Conservative Portfolio will shift from about 20 per cent equities and 80 per cent fixed-income mix to approximately 40 per cent equities and about 60 per cent fixed-income mix.
The Portfolios will continue to generate regular, attractive income streams, provide the opportunity for capital growth through diversified global exposure, and offer explicit downside protection against the risk of catastrophic capital loss. The focus on mitigating downside risk is achieved through the use of proprietary derivative strategies. As a result, these portfolios aim to deliver significantly less volatility than a similar but unprotected strategy.
About Mackenzie Investments
Mackenzie Investments was founded in 1967, and is a leading investment management firm providing investment advisory and related services. With $61.3 billion in assets under management as at August 31, 2015, Mackenzie Investments distributes its investment services through multiple distribution channels to both retail and institutional investors. Mackenzie Investments is a member of the IGM Financial Inc. (TSX: IGM) group of companies. IGM Financial is one of Canada's premier financial services companies with over $133 billion in total assets under management as at August 31, 2015. For more information, visit mackenzieinvestments.com.
SOURCE Mackenzie Investments
For further information: Trish Tervit, Director, Communications and Media Relations, Mackenzie Investments, 416-967-2166, [email protected]