Mackenzie Investments today announced portfolio manager changes to two of its mutual funds, effective March 1.

Jerry Javasky, head of Mackenzie’s Ivy Funds team, will assume responsibilities as co-manager of Mackenzie Select Managers USA Capital Class. Alan Pasnik, vp of investments and lead portfolio manager of Mackenzie Maxxum Global Explorer Capital Class, will also assume co-manager duties for the fund.

Javasky and Pasnik will share responsibility for selecting a concentrated portfolio of U.S. equity securities alongside two other portfolio management teams from Waddell & Reed Investment Management Company; large-cap growth specialists Phil Sanders and Dan Becker, and small and mid-cap specialists Mark Seferovich and Ken McQuade.

“These changes will achieve a better balance between value and growth managers in the portfolio,” says David Feather, President of Mackenzie Financial Services Inc. “What’s more, it adds accomplished investors to a roster that already includes two highly respected and successful managers from the United States.”

Javasky was twice named fund manager of the year at the Canadian Investment Awards, first in 1998 and again in 2002.

Pasnik, known for his value-oriented investment approach, joined Mackenzie in July 2005, and was named lead manager of the rapidly growing Maxxum Global Explorer Capital Class fund in August 2005. Previously, Pasnik was a portfolio manager at Cundill Investment Research and lead manager of several funds including Mackenzie Cundill Global Balanced Fund, Mackenzie Cundill Canadian Securities Fund and Mackenzie Cundill Canadian Balanced Fund.

Javasky and Pasnik replace three subadvisors on Mackenzie Select Managers USA Capital Class, namely Alliance Capital Management Canada Inc., Credit Suisse Asset Management and Salomon Brothers Asset Management Inc.

In addition, Mark Grammer, vp of investments and lead portfolio manager of Mackenzie Universal Global Future Fund and Mackenzie Universal Global Future Capital Class, will assume responsibility for one of the five co-portfolio manager duties on Mackenzie Select Managers Japan Capital Class fund. The change will be effective March 1.

Grammer replaces Credit Suisse Asset Management, which had been a sub-advisor to the fund. The other four management teams on the Select Managers Japan fund remain unchanged.

In conjunction with the changes in portfolio management on the two funds, Mackenzie also announced that it would reduce both of the funds’ management fees by 25 basis points for Series A, F and I, effective March 1.