Mackenzie Financial Corp. today announced its intention to call special meetings for investors in Mackenzie Universal World Growth RRSP Fund, Mackenzie Universal Global Future Class, and Mackenzie Universal Growth Trends Class. The meetings are scheduled for August 15.

The purpose of the meeting for Mackenzie Universal World Growth RRSP Fund will be to consider a change in the fund’s objectives and strategies. Under the proposal, the fund, which currently uses derivatives to invest in global equities, will become a global dividend fund with Series A units offering a fixed monthly distribution, at an annual rate of five% of the fund’s Net Asset Value Per Unit, which will be reset annually. The fund will also offer Series T units, which are suitable as tax efficient alternatives for individuals seeking to draw higher levels of income from their investments.

If the change of objective is approved, Mackenzie intends to appoint the Vancouver-based Cundill investment team as the new portfolio managers, and rename the fund Mackenzie Cundill Global Dividend Fund. The fund’s investment style will be consistent with Cundill’s deep value style of investing and be suitable for investors seeking steady, current income and long-term capital growth potential.

“If the proposal is approved, Mackenzie Cundill Global Dividend Fund will be a tremendous option for investors looking for income from a global portfolio,” says David Feather, president of Mackenzie Financial Services Inc. “Cundill’s conservative investment style, honed over 30 years, will be put to good use managing a global dividend fund. With preservation of capital as their hallmark, Cundill managers search the globe for true value opportunities.”

Shareholders will also consider a merger of Mackenzie Universal Growth Trends Class into Mackenzie Universal Global Future Class. Both funds are global equity funds that are managed with a growth style and that seek to identify themes/trends of companies and/or sectors that are believed to offer the highest growth potential. Both funds are suitable for medium to long-term investors with a moderate tolerance for risk.

If the merger proceeds, Mackenzie’s Mark Grammer will continue on as lead manager of the merged Mackenzie Universal Global Future Class. Since Grammer assumed portfolio management of Mackenzie Universal Global Future Class in September 2003, the Fund has outperformed Mackenzie Universal Growth Trends Class.

If the merger is approved, investors in Series A, F and I of Mackenzie Universal Growth Trends Class will benefit, as the management fee rate for Mackenzie Universal Global Future Class is lower by 0.25% (25 basis points).

The changes to Mackenzie Universal World Growth RRSP Fund, Mackenzie Universal Growth Trends Class and Mackenzie Universal Global Future Class are conditional upon investor approval and any other applicable approvals. Full details of the changes will be outlined in a Management Information Circular and Proxy materials, which will be sent to all investors of record in these funds on July 9. Prospective investors may obtain this information from Mackenzie prior to the meetings.