Mackenzie Financial Corp. is proposing changes to to Mackenzie Saxon International Equity Fund and Mackenzie Saxon World Fund, the company said Monday.

Effective October 1 the Mackenzie Cundill team will be appointed portfolio managers of the two funds.

Concurrent with Mackenzie Cundill assuming portfolio management responsibilities, there will be modifications to the investment strategies of the funds to align with the Mackenzie Cundill investment approach. In addition, Mackenzie Saxon International Equity Fund will change its name to Mackenzie Cundill International Equity Fund and Mackenzie Saxon World Fund will change its name to Mackenzie Cundill World Fund.

Fund merger

Effective November 26, 2010, Mackenzie Investments will merge Mackenzie Cundill International Equity Fund (formerly Mackenzie Saxon International Equity Fund) into Mackenzie Cundill International Class, where Mackenzie Cundill International Class will be the continuing fund. The merger will consolidate two funds that have similar investment objectives, Mackenzie says.

Investors in Mackenzie Saxon International Equity Fund will be provided at least 60 days notice prior to the merger. The merger has been approved by the Mackenzie Funds’ Independent Review Committee. In connection with the merger, securities of Mackenzie Saxon International Equity Fund will no longer be available for purchase effective the close of business on October 29.

IE