It’s spring-cleaning time at Toronto-based Mackenzie Financial Corp. Following the closure of Mackenzie Universal Canadian Tactical Fund in April, the firm is proposing changes to the name and mandate of Mackenzie Maxxum Pension Fund, citing investors’ demand for income. If the proposed changes go through, the fund will be re-named Mackenzie Maxxum Monthly Income Fund and provide monthly income equal to 5% annually. The fund will invest in corporate and government bonds, income trusts and dividend stocks. Mackenzie says the new mandate will help position the fund as a more conservative offering against Maxxum Dividend Fund and Maxxum Dividend Growth Fund. “The proposed changes will make [the fund] a complement to other Mackenzie offerings and an attractive choice for risk-adverse investors seeking steady monthly income with capital appreciation,” says David Feather, president of Mackenzie Financial Services Inc. Unitholders will be asked to vote on the proposals at a May shareholder meeting.