Mackenzie Universal Global Ethics Capital Class fund has been renamed Mackenzie Universal Sustainable Opportunities Capital Class fund.

Mackenzie Financial Corp. also says that to further the sustainable and responsible mandate of the fund, Mackenzie will make an annual corporate donation equivalent to 0.05% of assets (based on average monthly assets) in the fund to the Mackenzie Financial Charitable Foundation. Mackenzie is the first large fund company in Canada to integrate a corporate donation feature into a fund mandate.

“We recognize that the donation for this first year will be relatively small based on the current size of the fund,” said David Feather, president, Mackenzie Financial Services Inc. “But we are optimistic about the prospects for the fund and, as the asset base of the fund grows, the size of the donation will grow along with it.”

Mackenzie launched the sustainable and responsible investment (SRI) fund in January 2000. The fund currently has $11.3 million in assets under management.

Mackenzie says prospects for the fund are optimistic given growing interest from Canadian advisors, investors, pensions and group retirement plans for SRI products.

Kirsteen Morrison, director of global SRI equities at Henderson Global Investors, a UK-based international investment management firm, is the lead manager of the fund. Henderson has a 25-year history managing funds with social, ethical and environmental dimensions and, in 2001, received recognition as one of the world’s top three fund managers demonstrating best SRI practices from a pool of 77 institutions chosen by MISTRA, the Swedish Foundation for Strategic Environmental Research.

“While the objectives of Mackenzie Universal Sustainable Opportunities Capital Class fund remain unchanged, we believe the new name better reflects the sustainable and responsible investment approach taken by Henderson Global Investors,” said Feather.

Through its selection process, Henderson seeks out companies that generate attractive returns for investors by responding to the global sustainability agenda. Companies have to pass over a “double hurdle” to enter the funds — demonstrating sound financial fundamentals and long-term growth potential, along with meeting social, ethical and environmental benchmarks set by the Henderson SRI team.

The Mackenzie Financial Charitable Foundation is an employee-driven grassroots movement with a mission to invest in organizations and programs aimed at helping communities across Canada. Created in 2000, the Foundation focuses on three key areas of concern: health service and health care research for Canadians in need; social well-being and welfare in Canada — particularly for the benefit of underprivileged, disabled and sick children, youth and young adults; and, education in Canada.

http://www.newswire.ca/en/releases/archive/November2003/10/c0422.html