Mackenzie Investments today announced that Mackenzie Cundill Recovery Fund will be reopened to investors, effective March 28. The fund has been closed to new retail subscriptions since April 2006.

Mackenzie decided to close the fund to new retail subscriptions after assets tripled in the 18 months prior to April 2006. Although the fund had maintained consistent performance numbers through this period, Mackenzie felt it was in the best interests of investors to allow the managers time to prudently use its cash consistent with the fund’s mandate.

Mackenzie says the fund is being reopened in recognition of current investment opportunities consistent with the portfolio manager’s investment approach.

“Global stock markets, which started to correct in the summer of 2007, have created numerous deep value and recovery opportunities, so the fund’s ability to take in new money has increased substantially,” says David Feather, president of Mackenzie Financial Services Inc.

The fund’s manager, James Morton, believes that some of the best opportunities can be found in large cap companies in North America and in certain sectors across Europe.

Morton is chief investment Officer of CIM Investment Management Ltd., and a consultant to Mackenzie Cundill Investment Management Ltd. With a Law degree from Cambridge University, an MBA from Stanford Business School and an MA in Third World Economics from the Stanford Food Research Institute, Morton has 30 years experience in the financial services industry, the last 10 as manager of the fund.