TORONTO, April 11, 2012 /PRNewswire/ - Mackenzie Financial
Corporation (Mackenzie Investments) today announced the following
fund reorganizations ("mergers") and terminations that are expected
to be effective on or about June 15,
2012:
Fund Reorganizations
Mackenzie Saxon U.S. Equity Fund will merge into Mackenzie
Universal American Growth Class (Unhedged Class), Mackenzie Ivy American Class will merge into
Mackenzie Universal U.S. Blue Chip Class and Mackenzie Universal
Canadian Value Class will merge into Mackenzie Cundill Canadian Security Class.
These mergers have received approval from the Independent Review
Committee (IRC) of the Mackenzie Funds and investors in the funds
will be provided 60 days' notice.
Additionally, Mackenzie proposes to merge Mackenzie Saxon
Explorer Class into Mackenzie Universal North American Growth
Class. This merger is conditional upon investor and regulatory
approval and full details about the proposed merger will be
outlined in a Management Information Circular and Proxy to be
mailed to investors of record in May. A special meeting of
investors to consider and vote on the proposed merger is scheduled
for June 12, 2012 at Mackenzie's
office in Toronto.
Fund Terminations
Mackenzie will terminate Mackenzie Universal Africa & Middle
East Class, Mackenzie Universal Sustainable Opportunities Class and
Mackenzie Sentinel U.S. Managed Yield Class. Investors in these
funds will be provided 60 days' notice. Each fund's shares will be
redeemed and its investors will receive units of Mackenzie Sentinel
Money Market Fund as proceeds of redemption.
Effective immediately Mackenzie Universal Africa & Middle
East Class, Mackenzie Universal Sustainable Opportunities Class and
Mackenzie Sentinel U.S. Managed Yield Class are closed to new
purchases.
Mackenzie Investments: Mackenzie Investments was founded
in 1967, and is a leading investment management firm providing
investment advisory and related services. With $64.4 billion in assets under management as at
March 31, 2012, Mackenzie Investments
distributes its investment services through multiple distribution
channels to both retail and institutional investors. 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 $124 billion in total
assets under management as at March 31,
2012. For more information, visit
www.mackenziefinancial.com.
SOURCE Mackenzie Investments