Mackenzie Financial Corp. is making changes several of its mutual funds, effective August 9.

The Scudder US Growth and Income Fund will be renamed the Mackenzie Universal American Growth Fund. Bluewater Investment Management Inc. will be appointed advisor to the portfolio.

Mackenzie established a strategic partnership with Bluewater in 1994. Led by its principals Dina DeGeer, Dennis Starritt and Phil Taller, Bluewater also manages Mackenzie Universal Canadian Growth Fund and Mackenzie Universal Canadian Balanced Fund, and is co-manager on Mackenzie Universal Select Managers Canada Fund.

A meeting of unitholders will be held on September 4, to approve a change of investment objective for the renamed fund, and to approve a merger of the fund into Mackenzie Universal American Growth Capital Class, a mutual fund that Mackenzie intends to launch in the fall of 2002. The merger is exepected to be completed on or about November 8.

The Scudder Greater Europe Fund will be renamed the Ivy European Fund, and the portfolio will be managed by Jerry Javasky and Paul Musson. In managing the fund, the team will employ the same consistent investment discipline investors have come to know in the Mackenzie Ivy Funds and, in particular, the Mackenzie Ivy Foreign Equity Fund.

The team is renowned for conducting its own company- specific research and has demonstrated a capacity to find high quality companies in which to invest. These companies typically have strong financial attributes, consistent patterns of predictable growth, and superior and steady management cultures.

The Scudder Canadian Short Term Bond Fund will be renamed the Mackenzie Short Term Bond Fund, and Chris Kresic, vice president, investments at Mackenzie will manage the portfolio. Kresic is a lead member of the experienced fixed income team, and is a manager on the $224 million Mackenzie Yield Advantage Fund, the $404 million Mackenzie Bond Fund, and the income portion of the $880 million Mackenzie Income Fund. He has been with Mackenzie since 1997.

“We’ve put some of our best managers on these funds and in every case, we’ve improved the quality of our offerings without affecting any fee increases. These changes demonstrate our commitment to growing these funds and generating better operating efficiencies over the long term,” said David Feather, president, Mackenzie Financial Services Inc., in a news release. “We’re confident that, given the track records of these managers, advisors and investors will be more than satisfied.”