Canadian Mutual Fund Cost of Ownership Comparable to U.S.

TORONTO, Sept. 9 /CNW/ - New research commissioned by Mackenzie Investments shows that most Canadians are on a level playing field with Americans when it comes to the cost of owning mutual funds purchased through a financial advisor.

The research, conducted by Bain & Company, a leading global business consulting firm (www.bain.com), concludes that for mutual funds purchased with advice, the vast majority of Canadian investors have a cost of mutual fund ownership within the range of the 15 largest comparable mutual fund companies in the United States. A summary of the research and the research report are available at www.mackenziefinancial.com.

The cost of ownership for the majority of Canadian investors is comparable with their U.S. counterparts, when appropriate adjustments are made for differences between the countries in fee structures, tax regimes and how mutual funds are purchased.

These findings provide a much clearer picture of the true experience of mutual fund investors using the advice model in Canada.

Taken together with research recently released by IFIC in The Value of Advice Report, which identifies the significant incremental benefit to investors who have an advisor, this research clearly demonstrates that Canadian investors are well-served by mutual funds purchased with advice.

Mackenzie Investments: Mackenzie Investments was founded in 1967, and is a leading investment management firm providing investment advisory and related services. With $62.4 billion in assets under management as of August 31, 2010, Mackenzie Investments distributes its services through a diversified network of third-party financial advisors. 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 $118 billion in total assets under management as of August 31, 2010.

For further information:

Trish Tervit Environics Communications 416-969-2809 [email protected]