Mackenzie Financial Corp. proposed changes to its mutual fund product line-up on Wednesday.

The fund manager wants to merge three funds into other Mackenzie funds with similar mandates:
• Mackenzie Saxon Money Market Fund will merge into Mackenzie Sentinel Money Market Fund;
• Mackenzie Saxon Bond Fund will merge into Mackenzie Sentinel Bond Fund; and
• Keystone Cundill International Value Class will merge into Mackenzie Cundill International Class.

The mergers are conditional upon investor and other approvals. Special meetings of investors of the merging funds and of Mackenzie Cundill International Class to consider and vote on the proposed mergers are scheduled for September at Mackenzie’s office in Toronto.

To effect these changes, investors will receive securities of the continuing funds in exchange for securities of the merging funds, Mackenzie said.


Fixed rate administration fees for Mackenzie Saxon Funds

Mackenzie also announced that special meetings for investors of selected retail series of prospectus offered Mackenzie Saxon Funds will be held on September 21, to consider and vote on a proposed change to the method of charging operating expenses, such that the funds will adopt the fixed rate administration fee structure utilized by the Mackenzie family of mutual funds.

The Saxon Funds were acquired in September 2008.

IE