Mackenzie merges several funds

Toronto-based Mackenzie Financial Corp. has announced it will be merging three funds and making a subadvisor change for a fourth. All these funds are distributed exclusively through Quadrus Investment Services Ltd. Focused Canadian Equity Fund will be merged into Focused Canadian Equity Class; International Equity Fund (fund subadvisor: Putnam Advisory Co. LLC) will be merged into International Equity Class (Putnam); and Global Equity Fund (Setanta Asset Management Ltd.) will be merged into Global Equity Class (Setanta). The mergers are expected to occur on or about June 25. The mergers were reviewed and approved by Mackenzie Funds on April 16. Unitholders of each terminating fund will be given a 60-day written notice before the merger. At the same time, U.S. Value Class (Eaton Vance Corp.) will be renamed U.S. Value Class, and its new subadvisor will be Putnam. This change will be effective on or about June 27.

(cohara@investmentexecutive.com).