Mackenzie Financial Corp. is reporting net sales and redemptions for the month ending May of $46.6 million. Total overall assets under administration including segregated products, hedge funds and VenGrowth funds at Mackenzie at May 31 were $39.7 billion.

“Investors are continuing to move from the sidelines into longer-term investments. The result for us is continued positive momentum in our gross sales that surpass our five-month record for 2001,” says Phil Cunningham, president, Mackenzie Financial Services Inc.

May sales figures include the following: Mackenzie equity, balanced and fixed income fund net sales of $150.1 million; net sales for VenGrowth, and segregated funds of $5.8 million, hedge fund net sales of $5.7 million, and money market and short duration funds net redemptions of $115.0 million.

“Together, the Ivy and Cundill Funds have generated $829.5 million in net sales in the five months of 2002, versus $114.7 million in 2001. While Ivy and Cundill continue to garner the bulk of new sales dollars, we remain pleased with the overall performance of our broad range of Mackenzie funds,” says David Feather, executive vice president, Mackenzie Financial Services Inc.