TORONTO - Mackenzie Financial, the largest Canadian fund company selling through independent brokers and dealers, has launched a low-fee class of units aimed at stemming defections by its richest customers.

The new class, which received final regulatory approval in late October, is restricted to accounts of at least $500,000 (all amounts reported in Canadian dollars). It carries sharply reduced management expense ratios that are close to a full percentage point lower than the management expense ratios on Mackenzie's regular retail funds.

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