Mackenzie Investments will call special meetings of unitholders for Mackenzie Sentinel Tactical Global Bond Fund and Mackenzie Sentinel RRSP Global Bond Fund to consider a mandate change and a proposed merger.

The meetings are scheduled for April 21.

Unitholders of Mackenzie Sentinel RRSP Global Bond Fund will be asked to consider proposed changes to the fund’s investment objectives. Under the proposed new objectives, the fund will aim to achieve a high level of current income and, secondarily, long-term capital growth by investing in a diversified portfolio primarily consisting of fixed-income securities of foreign issuers. The change will allow the portfolio managers to invest directly in global bond securities around the world, and will eliminate the fund’s requirement to invest through the use of derivative instruments such as forward contracts and futures.

Unitholders of Mackenzie Sentinel Tactical Global Bond Fund will be asked to consider a merger of the fund into Mackenzie Sentinel RRSP Global Bond Fund. The merger of Mackenzie Sentinel Tactical Global Bond Fund is expected to be conditional upon the change in objectives for Mackenzie Sentinel RRSP Global Bond Fund.

Following the merger of the two funds, and the change of mandate, it is expected that Mackenzie Sentinel RRSP Global Bond Fund will be renamed Mackenzie Sentinel Global Bond Fund. The fund, will continue to be sub-advised by Waddell & Reed, with portfolio managers Dan Vrabac and Mark Beischel.

In addition, if investors approve the change, the fund is expected to commence paying a quarterly, variable distribution, based on its estimated quarterly taxable income.

The changes for both funds are conditional upon investor approval and any other applicable approvals.