Mackenzie Financial Corp. is proposing several changes to its mutual fund product line-up, the company said Thursday.

The changes are being made for reasons that include lower fees for investors, increased prospects for performance, greater tax efficiency and to provide a more efficient line-up, Mackenzie says.

Mackenzie proposes to merge several funds into other Mackenzie funds.

Mackenzie Universal Canadian Value Fund will merge into Mackenzie Universal Canadian Value Class.

Mackenzie Universal Global Property Income Fund will merge into Mackenzie Universal World Real Estate Class.

Mackenzie Putnam Global Equity Fund will merge into Mackenzie Ivy Foreign Equity Class.

Keystone Saxon Smaller Companies Fund will merge into Saxon Small Cap Fund.

Keystone Sceptre Canadian Large Cap Fund will merge into Mackenzie Maxxum Canadian Equity Growth Fund.

Keystone Sceptre Canadian Small Cap Fund will merge into Mackenzie Ivy Enterprise Fund.

Keystone Bissett Canadian Equity Fund will merge into Saxon Stock Fund.

The mergers are conditional upon investor and other approvals. Special meetings of investors of the merging funds to consider and vote on the proposed mergers are scheduled for June 1 in Toronto.

Fees will be the same or lower than those for the securities of the merging fund, Mackenzie says.

Mackenzie also plans to make several changes to portfolio sub-advisors effective April 30.

Mackenzie’s Ian Ainsworth, senior vice president, will be appointed lead manager of Mackenzie Universal World Science & Technology Class.

Mackenzie Cundill Investment Management Ltd. will be appointed sub-advisor of Keystone Templeton International Stock Class. Upon completion of the change of sub-advisor, Keystone Templeton International Class will be renamed Keystone Cundill International Value Class.

Changes are being made to the roster of sub-advisors on the multi-manager Symmetry Equity Class and Symmetry Registered Fixed Income Pool, with some managers being replaced and others assuming additional responsibilities. Investments in the Symmetry Equity Class are being reallocated amongst sub-advisors. Mackenzie Cundill is assuming an international value oriented equity mandate. In addition, Howson Tattersall Investment Counsel Ltd. is being appointed sub-advisor within the Canadian equity and small-cap equity segments of the Fund. Symmetry Registered Fixed Income Pool is being reallocated amongst existing sub-advisors Goodman & Co. and Mackenzie Investments.

The proposed mergers and portfolio sub-advisor changes have been reviewed by the funds’ Independent Review Committee, Mackenzie says.

In addition, investors in the Mackenzie Universal Emerging Technologies Class will be sent a Management Information Circular proposing a change of investment objectives such that its mandate will be broadened to include a wider range of science and technology-related sub-sectors.

The change will provide the fund improved flexibility, and the ability to capitalize on a wider range of investment opportunities as they arise from time to time. Concurrent with the mandate change, the fund will be renamed. A special meeting is scheduled for June 1, at Mackenzie’s head office in Toronto. If approved, the change is expected to be effective in June.

IE