(January 13 – 10:55 ET) – Mackenzie has received final regulatory approval for two new funds — Universal Ethical Opportunities and Universal Health Sciences.

The two funds will be available under Mackenzie’s new unit pricing structure which includes four classes of units: class A which carries a management expense of 2%; class I, which has a ME of 1.35%; class F with a ME of 1%. Management expenses on the Class O shares are negotiable.

Class A shares are basically retail, while Class I and O have higher minimums and are aimed at institutional investors. Class F shares do not pay a trailer fee, but rather allow adivsors to charge clients for advice in lieu of trailer fees.

Universal Ethical Opportunities fund will invest in securities in ‘socially responsible’ countries and companies within those companies. While Universal Health Sciences fund will invest at least 65% of its assets in world wide corporations that are involved in health sciences activities, such as pharmaceuticals, medical supplies, health management and medical research.
-IE Staff