Toronto-based Mackenzie Financial Corp. announced 10 fund mergers on Thursday with the intent to simplify choices and help financial advisors navigate its product shelf.

In addition, the firm is proposing a change to the investment objectives of Mackenzie Global Concentrated Equity Fund and Mackenzie Canadian Growth Fund.

Nine of the proposed mergers and both of the proposed investment objectives changes are subject to investor approval. Investors of record as of Oct. 7 will receive a notice of meeting and information circular describing the proposals in advance of a special meeting.

“We are continuing our commitment to the financial success of investors through their eyes by helping advisors find appropriate products more easily, which will give them more time to serve their clients better,” says Barry McInerney, Mackenzie’s president and CEO, in a statement. “Mackenzie Investments is committed to developing innovative solutions to help advisors and their clients manage risks such as longevity, volatility and inflation.”

“After these mergers, Mackenzie Investments will continue to have one of the broadest product shelves in the Canadian marketplace that is positioned to capture the spectrum of market environments,” adds Michael Schnitman, senior vice president of product for Mackenzie, in a statement.

The terminating and continuing Mackenzie Funds for each proposed merger, which are to be implemented on or about Nov. 25, are available on the firm’s website.

In addition, Mackenzie proposes to change the investment objectives of Mackenzie Canadian Growth Fund to clarify its investment approach by removing references to fixed-income securities and government-issued securities.

The fund’s portfolio manager has not traditionally invested in fixed-income or government-issued securities and does not expect to invest in these securities. As such, the change to the objectives is being proposed for clarification purposes and Mackenzie does not expect the change to impact current or future holdings.

In addition, Mackenzie proposes to change the investment objectives of Mackenzie Global Concentrated Equity Fund to reflect a rules-based investment approach that will create a well-diversified portfolio with balanced exposures across sectors, industries and risk factors.

If investors approve this change, Rick Weed, senior vice president and portfolio manager, will be named as the fund’s lead portfolio manager.

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