Mackenzie Investments' Keystone Portfolio Funds investors approve reorganization into Symmetry One Funds

Keystone Partner Funds mergers planned

TORONTO, April 20 /CNW/ - Mackenzie Financial Corporation (Mackenzie Investments) is pleased to announce the results of the special meetings of investors held today in the Keystone Portfolio Funds.

Keystone Portfolio Fund investors approved resolutions to reorganize the funds into Mackenzie's Symmetry One Funds. These reorganizations are part of an initiative designed to upgrade Mackenzie's existing asset allocation clients to its Symmetry One Funds and to streamline the company's strategic asset allocation offering. The reorganizations are expected to be effective on or about May 27, 2011.

Keystone Partner Funds
To complete the overall upgrade initiative, Mackenzie Investments also plans to merge each of the Keystone Partner Funds with another Mackenzie fund with a similar mandate, on or about June 24, 2011. These planned mergers, which have received approval from the Mackenzie Funds' Independent Review Committee (IRC), are as follows:

Keystone Partner Fund (merging fund) Mackenzie Fund (continuing fund)
Keystone AGF Equity Fund Mackenzie All-Sector Canadian Equity Fund   
Keystone Beutel Goodman Bond Fund Mackenzie Sentinel Bond Fund
Keystone Dynamic Power Small-Cap Class    Mackenzie Saxon Small Cap Class
Keystone Manulife High Income Fund Mackenzie Maxxum Monthly Income Fund
Keystone Manulife U.S. Value Fund Mackenzie Cundill American Class

Further details about the mergers are contained in a notice that will be mailed to investors of record in the Keystone Partner Funds.

The merger of Keystone Dynamic Power Small-Cap Class and Mackenzie Saxon Small Cap Class is conditional upon approval by investors in Mackenzie Saxon Small Cap Class. Further details about that merger will be outlined in a Management Information Circular and Proxy and that will be sent to all investors of record in Mackenzie Saxon Small Cap Class. The special meeting of investors of Mackenzie Saxon Small Cap Class to consider and vote on that merger is scheduled for June 22, 2011 at Mackenzie's office in Toronto.

In order to facilitate the management of Keystone Dynamic Power Small-Cap Class following the completion of the reorganization of the Keystone Portfolio Funds and prior to its planned merger with Mackenzie Saxon Small Cap Class, the investment strategies of Keystone Dynamic Power Small-Cap Class will be modified, effective May 27, so that it may invest up to 100% of its assets in units of Mackenzie Saxon Small Cap Fund, whose investment objectives and past performance are substantially similar to the investment objectives and past performance of Mackenzie Saxon Small Cap Class.

Mackenzie Investments: Mackenzie Investments was founded in 1967, and is a leading investment management firm providing investment advisory and related services. With $70.7 billion in assets under management as of March 31, 2011, Mackenzie Investments distributes its services through a diversified network of third-party financial advisors. Mackenzie Investments is a member of the IGM Financial Inc. (TSX: IGM) group of companies. IGM Financial is one of Canada's premier financial services companies with over $134 billion in total assets under management as of March 31, 2011.

SOURCE Mackenzie Financial Corporation

For further information:

Trish Tervit
Environics Communications
416-969-2809
ttervit@environicspr.com


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