Toronto-based Mackenzie Financial Corp. will defer two fund mergers, originally scheduled to be implemented on or about July 6, the company announced on Friday.

The deferred mergers are:

  • Mackenzie Cundill Recovery Class into Mackenzie Cundill Value Class; and
  • Mackenzie Cundill Recovery Fund into Mackenzie Cundill Value Fund.

These mergers were approved at a special meeting held on June 22.

Mackenzie expects that the mergers will take place within the next 120 days. The portfolio managers of Cundill Value Fund and Cundill Value Class, Jonathan Norwood and Richard Wong, have been named portfolio managers of Cundill Recovery Class and Cundill Recovery Fund until the mergers take effect.