Mackenzie Investments today announced that it plans to merge six Putnam Funds into Mackenzie Funds with similar mandates, effective September 26.

Putnam Canadian Money Market Fund will merge into Mackenzie Sentinel Money Market Fund.

Putnam Canadian Bond Fund will merge into Mackenzie Sentinel Bond Fund.

Putnam Canadian Balanced Fund will merge into Mackenzie Maxxum Canadian Balanced Fund.

Putnam U.S. Voyager Fund will merge into Mackenzie Universal U.S. Growth Leaders (Unhedged) Class.

Putnam U.S. Value Fund will merge into Mackenzie Universal U.S. Blue Chip Class.

Putnam International Equity Fund will merge into Mackenzie Focus International Class Fund.

Special meetings of unitholders of the Putnam funds are scheduled for September 19 to approve the proposed mergers.

Mackenzie says the mergers will benefit investors in several ways. Mackenzie funds have fixed rate administration fees that provide investors with greater expense ratio predictability and transparency. As well, Putnam investors will benefit from the ability to fully exchange their holdings on Mackenzie’s product shelf, which offers more than 100 investment options.

Concurrent with the proposed merger of Putnam International Fund into Mackenzie Focus International Class, Mackenzie intends to appoint Putnam Investments as one of four sub-advisors to Focus International Class.

Putnam’s London-based International investment team, headed by Josh Byrne and Simon (Sam) Davis, will assume direction for approximately one-quarter of the Focus International portfolio. Putnam will replace JPMorgan Asset Management.

Putnam Canadian Equity Fund and Putnam Canadian Equity Growth Fund, sub-advised by Sceptre Investment Counsel in Toronto, and Putnam Global Equity Fund, sub-advised by Putnam Investments in Boston, will continue to be offered to investors by Mackenzie through independent financial advisors.

Effective July 28, the names of these funds will be changed and the funds will be fully exchangeable with all other funds on Mackenzie’s platform.

The name changes are as follows:

> Putnam Canadian Equity Fund becomes Keystone Sceptre Canadian Large Cap Fund;

> Putnam Canadian Equity Growth Fund becomesKeystone Sceptre Canadian Small Cap Fund

> Putnam Global Equity Fund becomes Mackenzie Putnam Global Equity Fund.

Special meetings, concurrent with the meetings concerning the proposed mergers, will be hedl to consider and approve a change to the funds’ method for calculating operating expenses, such that the funds will adopt a fixed rate administration fee structure utilized by the Mackenzie family of mutual funds.

Deloitte & Touche LLP will also be appointed as the auditors of all the newly named funds listed above.

Mackenzie acquired the Putnam funds after they became affiliates in 2007 when Great-West Lifeco Inc. acquired Putnam Investments.