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Mackenzie Investments Announces Proposed Fund Merger and Portfolio Management Changes

TORONTO , Sept. 24, 2019 /CNW/ - As part of its ongoing efforts to streamline its product shelf for investors and advisors, Mackenzie Investments today announced the following proposed fund merger:

Mackenzie Investments (CNW Group/Mackenzie Investments)

Existing Fund (terminating)

To be merged into (continuing Fund)

Mackenzie Cundill US Class

Mackenzie US Growth Class

 

The merger is subject to regulatory approval and approval by the investors of those funds. Investors of record on or about November 20, 2019 will receive a notice of meeting prior to a special meeting of investors held on or about January 17, 2020 . If approved, the merger is expected to take effect on or about February 7 , 2020.  

Coincident with this fund merger proposal, Jonathan Norwood is no longer lead Portfolio Manager on Mackenzie Cundill US Class and will be leaving the firm effective September 30, 2019 . Richard Wong , Senior Vice President, has taken over as sole manager (from co-manager with Mr. Norwood) of Mackenzie Cundill Value Fund and Mackenzie Cundill Canadian Security Fund and has become the sole manager of Mackenzie Cundill US Class until its merger with Mackenzie US Growth Class on February 7, 2020 , subject to investor approval.  He will also continue as co-manager of Mackenzie Cundill Canadian Balanced Fund. 

Further, and effective September 20, 2019 , Mackenzie announced that it was changing the portfolio management of two of its funds by bringing their management in-house. The Mackenzie Fixed Income Team, led by Steve Locke , Senior Vice-President, Portfolio Manager, will take over management of the Mackenzie Corporate Bond Fund and the Mackenzie North American Corporate Bond Fund.

The Mackenzie Fixed Income Team consists of 20 investment professionals, managing funds across the entire global credit spectrum, from money market to high yield.

About Mackenzie Investments
Mackenzie Investments was founded in 1967 and is a leading investment management firm providing investment advisory and related services. With approximately $137.8 billion in assets under management as of August 31, 2019 , Mackenzie Investments distributes its investment services through multiple distribution channels to both retail and institutional investors. Mackenzie Investments is a member of the IGM Financial Inc. (IGM.TO) group of companies. IGM Financial is one of Canada's premier financial services companies with approximately $162 billion in total assets under management as of August 31, 2019 . For more information, visit mackenzieinvestments.com.

SOURCE Mackenzie Investments


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