Mavrix Fund Management Inc. today announced the successful merger of two funds and a fund name change.

As at the close of business on June 26, Mavrix Canada Fund and Mavrix Diversified Fund merged into Mavrix Income Fund. The merger was approved by unitholderss of both funds at the special meeting held on June 25.

On June 27, Mavrix Income Fund will change its name to the Mavrix Balanced Monthly Pay Fund.

Jackee Pratt, vp & portfolio manager, has the lead management role for Mavrix Balanced Monthly Pay Fund. Pratt joined the Mavrix team in February 2004 and has nearly 30 years of portfolio management experience in the investment industry. Over that time, she has successfully demonstrated a strong record of managing large capitalization funds.

Mavrix Balanced Monthly Pay Fund pays a fixed monthly distribution of $0.075 per unit and seeks to provide high investment returns by investing primarily in common and preferred shares which may pay dividends, bonds and other fixed income securities plus other income producing securities such as selected income and royalty trusts.