Mackenzie Financial Corp. yesterday received investor approval to change the investment objective of Mackenzie Universal World Emerging Growth Capital Class. Effective September 30, the fund may invest broadly in emerging markets without regard for market capitalization and better leverage sub-advisor JPMorgan Fleming Asset Management’s market research and expertise.

“We believe that emerging markets are poised to grow their economies at a rate faster than those of the developed world,” said the fund’s portfolio manager, Rick Schmidt, managing director, emerging market equity portfolios and Latin mandates, in a release.

Coincident with the change, on September 30 the fund will be renamed Mackenzie Universal Emerging Markets Capital Class to better reflect the fund’s revised mandate.

JPMorgan Fleming has over 30 years experience in emerging markets investing with a team of 40 investment professionals dedicated to managing US$6.4 billion in emerging markets mandates worldwide.

The change to the fund’s investment objective follows Mackenzie’s June 7 appointment of JPMorgan Fleming as sub-advisor. The firm has been advising the fund since July 30, 2004.

http://www.newswire.ca/en/releases/archive/September2004/23/c2907.html