Mackenzie Financial Corp. Monday announced the introduction of several all-Canadian equity mandates. The mandate of each fund will be to invest purely in Canadian equities, with no foreign content.

Mackenzie says the re-tooled funds will pursue long-term growth by investing primarily all of their assets in equity securities of Canadian companies, providing certainty for advisors and investors seeking a pure Canadian asset allocation.

With entirely Canadian content, the funds will not be affected by foreign exchange fluctuations, Mackenzie says.

The investment strategies of Mackenzie Universal Canadian Growth Class, Mackenzie Maxxum Canadian Equity Growth Class, and Mackenzie Ivy Canadian Class will be modified the change to entirely Canadian content. The changes will be effective on October 2.

To reflect the change to pure Canadian mandates, Mackenzie Universal Canadian Growth Class will be renamed Mackenzie Universal All-Canadian Growth Class. Mackenzie Maxxum Canadian Equity Growth Class will be renamed Mackenzie Maxxum All-Canadian Growth Class. Mackenzie Ivy Canadian Class will be renamed Mackenzie Ivy All-Canadian Class.

In addition to the change in investment strategies of Mackenzie Universal Canadian Growth Class, currency hedging will be eliminated on the hedged version of the fund. The hedged class will be renamed B Class and will immediately be closed to new sales. Mackenzie Universal Canadian Growth unhedged class will be renamed A Class. These changes will also be effective on October 2.

Mackenzie Focus Canada Class

Mackenzie Focus Canada Class’ roster of managers will be changed on October 30 to include Ian Ainsworth of Mackenzie Universal Funds, as well as the Mackenzie Maxxum investment team, the Mackenzie Cundill investment team, the Mackenzie Ivy investment team, and Bluewater Investment Management Inc.

A special meeting of investors is scheduled to vote on a proposed change in investment objectives of the fund such that the fund will invest purely in Canadian equities. The meeting will be held on October 26 in Toronto.

If approved, the name of the fund will be changed to Mackenzie Focus All-Canadian Class.

Other fund changes

Mackenzie GPS Allocation Fund and Symmetry Allocation Pool will be closed to new investments, effective October 23, and subject to regulatory approval will be replaced with series GP and SP of Mackenzie Sentinel Money Market Fund, respectively.

The new series GP and SP are expected to be available on or about September 25.

Mackenzie GPS Allocation Fund and Symmetry Allocation Pool will be terminated effective November 25.

IE