TORONTO, Aug. 5 /CNW/ - Mackenzie Financial Corporation ("Mackenzie Investments") today announced special meetings of investors in Mackenzie Saxon U.S. Small Cap Fund and Mackenzie Saxon Global Small Cap Fund. The purpose of each meeting is to consider and vote on a proposal to terminate the Funds, subject to a recommendation to proceed from the Independent Review Committee (IRC) of the Mackenzie Funds.
The changes are proposed due to the limited size of the funds, both in terms of assets and unitholders.
The meetings will be held on or about November 12, 2010 at Mackenzie's head office in Toronto.
The terminations are conditional upon investor approval and the IRC's review. Full details about the proposed fund terminations will be outlined in a Management Information Circular and Proxy that will be sent to all investors of record in the Funds. If approved, the Funds would be terminated and will make a final distribution of any income and capital gains on or about January 21, 2011.
Effective close of business on August 5, 2010, no additional purchases will be accepted into Mackenzie Saxon U.S. Small Cap Fund or Mackenzie Saxon Global Small Cap Fund, including purchases through existing regular investment plans.
Prior to the termination date, unitholders of the terminating funds may switch into another Mackenzie fund. Mackenzie Investments offers over 100 funds with a wide variety of investment styles and objectives.
Mackenzie Investments: Mackenzie Investments was founded in 1967, and is a leading investment management firm providing investment advisory and related services. With $62.4 billion in assets under management as of July 31, 2010, 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 $119 billion in total assets under management as of July 31, 2010.
SOURCE Mackenzie Financial Corporation
For further information: For further information: Trish Tervit, Environics Communications, 416-969-2809, firstname.lastname@example.org