TORONTO, Feb. 8, 2012 /CNW/ - Mackenzie Financial Corporation (Mackenzie Investments) today introduced two new services: One-Step Dollar Cost Averaging (DCA) and the Flexible Payout Service (FPS).
"Both these new services are designed to give investors greater flexibility and control over their investments," said Mary Taylor, Senior Vice-President, Product and Marketing of Mackenzie Investments. "Mackenzie One-Step Dollar Cost Averaging helps investors build wealth in a systematic, common sense way, and the Flexible Payout Service gives investors greater control over how much cash they receive from their investments."
Mackenzie One-Step Dollar Cost Averaging
Mackenzie One-Step DCA provides investors with a proven, systematic means of investing in the financial markets and staying invested over time.
"This strategy is especially useful when markets are volatile and many investors are unsure of when to invest," said Taylor. "Whether you are new to investing or on the sidelines, Mackenzie One-Step DCA can help you get into the market and start investing in a systematic way."
The concept is simple: an investor makes a fixed dollar contribution into Mackenzie Sentinel Money Market Fund or Mackenzie Sentinel Canadian Short-Term Yield Class as the allocator fund, and then every week part of the money is automatically switched into a pre-determined Mackenzie fund over the course of one year. For example, if you deposit $5,200, every week $100 would be transferred into the Mackenzie fund you have chosen working with your financial advisor. "By investing on a weekly basis, investors may benefit by buying more securities when prices are low and fewer securities when prices are higher, averaging out costs in the long run," said Taylor.
Mackenzie One-Step DCA is only approved for sale by certain dealers; financial advisors should check with their dealer for availability.
Mackenzie Flexible Payout Service
Designed for investors who are drawing cash from their investments, Mackenzie's FPS allows investors to customize the amount of cash they receive by choosing monthly payments, either at a percentage rate or a specific dollar amount. The only limitation is that the cash payout cannot exceed the amount distributed on the fund securities they hold. The selected payment rate can be modified at any time to suit changing lifestyle needs.
By using the Flexible Payout Service on Mackenzie corporate class funds, investors can receive cash flows that are completely tax-deferred, as the monthly distributions on these funds consist entirely of return of capital (ROC). Many investors choose to defer taxes until they retire and are in a lower tax bracket.
Mackenzie's FPS is available on most Mackenzie mutual fund series that pay regular monthly distributions at a fixed percentage rate.
Mackenzie Investments: Mackenzie Investments was founded in 1967, and is a leading investment management firm providing investment advisory and related services. With $63.4 billion in assets under management as of January 31, 2012, 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 approximately $122.0 billion in total assets under management as of January 31, 2012.
For further information: