Toronto-based Mackenzie Financial Corp. announced on Monday that it has approved several mutual fund mergers designed to streamline and strengthen Mackenzie’s suite of products.
The mergers will be implemented on or about July 6. The following mutual funds will be affected:
> Mackenzie Canadian Money Market Class will merge into Mackenzie Canadian Money Market Fund
> Mackenzie Ivy International Equity Fund will merge into Mackenzie Ivy International Fund
> Mackenzie U.S. Low Volatility Fund will merge into Mackenzie High Diversification U.S. Equity Fund
> Mackenzie Global Low Volatility Fund will merge into Mackenzie High Diversification Global Equity Fund
> Mackenzie Cundill Recovery Class will merge into Macenzie Cundill Value Class
> Mackenzie Cundill Recovery Fund will merge into Mackenzie Cundill Value Fund
> Mackenzie Emerging Markets Opportunities Class will merge into Mackenzie Emerging Markets Class
> Mackenzie U.S. Large Cap Class will merge into Mackenzie U.S. Growth Class
> Mackenzie Canadian All Cap Dividend Growth Fund will merge into Mackenzie Canadian Growth Fund
> Mackenzie Canadian All Cap Balanced Class will merge into Mackenzie Canadian Growth Balanced Class
In addition, the investment objectives of Mackenzie Income Fund and Mackenzie Short Term Income Fund will be changed to capitalize fully on their fixed-income capabilities.