TORONTO, June 27, 2012 /CNW/ - Mackenzie Financial
Corporation (Mackenzie Investments) today proposed the fund changes
described below:
Fund mergers
Mackenzie Investments proposes to merge Mackenzie Universal U.S.
Dividend Income Fund and Mackenzie Universal U.S. Growth Leaders
Class into Mackenzie Universal U.S. Blue Chip Class. These mergers
are conditional upon regulatory and investor approval.
Full details about the proposed mergers will be outlined in a
Management Information Circular and Proxy to be mailed early August
to investors of record. A special meeting of investors to consider
and vote on the proposed mergers is scheduled for August 27, 2012 at Mackenzie's office in Toronto. If approved, the mergers are expected
to be effective on or about September 14,
2012.
Other fund changes
Mackenzie Investments proposes to make changes to two other
funds. In respect of Mackenzie Ivy Foreign Equity Class, which
offers both an Unhedged Class and a Hedged Class, Mackenzie proposes to reorganize the fund by
splitting it into two funds, so that the Unhedged Class will
continue as Mackenzie Ivy Foreign Equity Class while the Hedged
Class will continue as Mackenzie Ivy Foreign Equity Currency
Neutral Class. Similarly, Mackenzie proposes to split Mackenzie
Universal American Growth Class, which also offers both an Unhedged
Class and a Hedged Class, into two funds, so that the Unhedged
Class will continue as Mackenzie Universal American Growth Class
while the Hedged Class will continue as Mackenzie Universal
American Growth Currency Neutral Class. These changes are
conditional upon regulatory and investor approval.
In each case, splitting the Unhedged Class and the Hedged Class
into two separate funds will create a more efficient structure for
the administration of currency hedging for the Hedged Class. Beyond
the name change, there will be no other impact on investors of
these funds.
Full details about the proposed changes will be outlined in a
Management Information Circular and Proxy to be mailed early August
to investors of record. A special meeting of investors to consider
and vote on the proposed changes is scheduled for August 27, 2012 at Mackenzie's office in Toronto. If approved, the changes are expected
to be effective at the beginning of October.
Mackenzie Investments: Mackenzie Investments was founded
in 1967, and is a leading investment management firm providing
investment advisory and related services. With $60.2 billion in assets under management as at
May 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 $117 billion in total assets
under management as at May 31, 2012.
For more information, visit www.mackenziefinancial.com.
SOURCE Mackenzie Investments