Mackenzie offers new DCA and payout services

Mackenzie Financial has introduced two new services designed to provide investors with more flexibility and control over their investments.

The first is the One-Step Dollar Cost Averaging program, which allows investors to invest a fixed amount in one of two short-term cash equivalent funds, and dribble that cash into a pre-determined Mackenzie fund on a weekly basis.

“This strategy is especially useful when markets are volatile and many investors are unsure of when to invest,” said Mary Taylor, Senior Vice-President, Product and Marketing of Mackenzie Investments. “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.”

Mackenzie One-Step DCA is only approved for sale by certain dealers; financial advisors should check with their dealer for availability.

The second new program is the Flexible Payout Service, which allows investors to choose monthly payments, either as a percentage or a specific dollar amount, from their investments. The cash payout cannot exceed the amount distributed on the fund securities they hold.

Using this system with 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.

Mackenzie’s FPS is available on most Mackenzie mutual fund series that pay regular monthly distributions at a fixed percentage rate.

Staff

The staff of Advisor.ca have been covering news for financial advisors since 1998.