In 1987, Mackenzie introduced the first back-end loaded fund in Canada – Mackenzie Industrial Horizon fund. This load structure proved to be popular with both investors and financial advisors. The mutual fund investor didn't have to pay a sales commission up front and was only charged a fee if the units were redeemed within a specific time period. The financial advisor, however, still received a commission for selling these redemption charge securities of Mackenzie (RCS) mutual funds to the investor.

The Partnerships were formed to pay the selling commissions to financial advisors who sold redemption charge securities of Mackenzie mutual funds for specified periods between 1987 and 1994.

Units of the partnership were sold to individual investors through certain investment dealers ("selling group"). These individual investors became limited partners.

The money raised by the limited partners was used to fund:

1. Expenses for the issue of the limited partnership units and commissions paid to the selling group
2. Commission paid to investment dealers who sold RCS funds