Mackenzie Financial Corp. and Putnam Investments Inc. have announced that Mackenzie will assume responsibility as trustee and manager for several Putnam mutual funds in Canada, effective Dec. 31, 2007.

While Mackenzie will take on operational and distribution-related responsibilities for the funds, investment management responsibilities will not change.

Putnam Investments will continue to act as sub-advisor for Putnam U.S. Value Fund, Putnam International Equity Fund, Putnam Global Equity Fund and Putnam U.S. Voyager Fund.

Sceptre Investment Counsel Limited will continue to act as sub-advisor to Putnam Canadian Bond Fund, Putnam Canadian Money Market Fund, Putnam Canadian Balanced Fund, Putnam Canadian Equity Fund, and Putnam Canadian Equity Growth Fund.

Later in 2008, the change in business management of the Putnam Funds in Canada will provide investors with the ability to switch their investments across the full Mackenzie platform, Mackenzie said in a release

Putnam and Mackenzie became affiliates earlier in 2007 when Great-West Lifeco Inc. acquired Putnam Investments. Great-West Lifeco Inc. is a member of the Power Financial Corp. group of companies. Mackenzie, a wholly owned subsidiary of IGM Financial Inc., is also a member of the Power Financial group of companies.