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,
SOURCE Mackenzie Financial Corporation
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