Mackenzie Financial today reported the approval of the merger of Mackenzie Universal Growth Trends Class into Mackenzie Universal Global Future Class. Shareholders of both funds approved the merger, which will come into effect on August 17.

The newly merged fund will be named Mackenzie Universal Global Growth Class.

Both funds have similar global equity mandates and growth management styles. Investors in Series A, F and I of Universal Growth Trends Class will benefit from the continuing fund’s lower management fee. The management fee for those series of Universal Global Growth Class is 0.25% (25 basis points) lower than the Universal Growth Trends management fee.

Mackenzie’s Mark Grammer will continue on as lead manager of the newly merged fund, under the same investment objectives and strategies as have been employed since he assumed the lead manager role in 2003 for Mackenzie Universal Global Future Class.

Consistent with the name change on the above Capital Class versions, Mackenzie Universal Global Future Fund will be renamed Mackenzie Universal Global Growth Fund, also effective August 17.