Mackenzie Financial Corp. has launched Mackenzie Cundill Global Dividend Fund. On August 15, unitholders approved a mandate change to Mackenzie Universal World Growth RRSP Fund, which is effective immediately.

The fund’s name will be changed on August 17 to Mackenzie Cundill Global Dividend Fund.

The fund offers tax-efficient monthly distributions, exposure to value opportunities globally and access to the Cundill investment style that has been so successful for the last 32 years.

Additionally, the fund will extensively hedge its foreign currency exposure as a matter of strategy to reduce volatility.

The fund’s Series A and F units will pay a monthly distribution equal to 5% year.

Series T6 and Series T8 versions of Cundill Global Dividend Fund will be offered for sale on August 27. Series T6 funds provide investors with tax-efficient monthly income of 6% annually, while Series T8 funds provide investors with tax-efficient monthly income of 8% annually.

Investors in Cundill Global Dividend Fund may also benefit from tax losses accrued to Universal World Growth RRSP Fund; these tax losses will be available for the Fund to offset income earned until the end of 2009. Also, there are capital losses accrued to the Fund that can be applied against future capital gains earned by Cundill Global Dividend Fund. These tax losses further enhance the tax efficiency already available in Series T as well as Series A units of this Fund.

“We expect Cundill Global Dividend Fund to appeal to investors for many reasons,” says David Feather, president of Mackenzie Financial Services Inc. “The fund is managed by Cundill, a name trusted by investors across Canada, and with three tax-efficient distribution options to choose from, investors can match their income stream to their cash flow needs. Further, investors will benefit from the fund’s tax losses for many years.”

The fund will be managed by vice presidents David Tiley, Wade Burton, Lawrence Chin, and founder, Peter Cundill. Each fund manager specializes in a specific geographic area; David Tiley is the European equity specialist, Lawrence Chin (U,S.), Wade Burton (Canada) and Peter Cundill (global equities).

A U.S. dollar version will also be available as of August 27.