Mackenzie announces changes to Keystone Saxon Smaller Companies Fund

    Broader investment horizon gives investors more exposure to high-quality
    income trusts

    TORONTO, June 5 /CNW/ - Mackenzie Investments today announced a change to
the investment strategy of Keystone Saxon Smaller Companies Fund to include an
expanded exposure to income trusts. Effective immediately, the Fund will be
able to invest up to 30 per cent of its assets in the income trust sector.
    "Investors are still looking for steady cash flow and we continue to see
solid investment opportunities in income trusts - especially in the Canadian
small- and mid-cap market," said David Feather, President, Mackenzie Financial
Services Inc. "This timely change will allow Keystone Saxon Smaller Companies
Fund managers to capitalize on the strong value-based opportunities that exist
in the income trust market right now."
    Income trusts are business structures that purchase a cash flow
generating asset and distribute particular cash flows less expenses to
investors, with many having the potential to produce capital gains as well as
interest income.
    While Keystone Saxon Smaller Companies Fund is not restricted to
investing in smaller companies, this amendment will increase the size of the
Fund's investable universe of high-quality, profitable small and
mid-capitalization businesses. The Fund's portfolio advisor employs a
value-oriented approach to identify investments with sustainable earning power
trading at low valuations.
    The Fund's resulting broader investment mandate aims to improve its
risk-adjusted return potential. Keystone Saxon Smaller Companies Fund is
suitable to Canadian equity investors seeking long-term capital growth through
exposure to the small and mid-cap sectors of the Canadian equity market.
    Scotia Capital Markets Income Trust Total Return Index posted the
following returns for 1 year, 3 year, 5 year and 10 year periods ending
May 31, 2007: 2.3%, 21.9%, 21.3%, 14.9%.

    Mackenzie Investments: Mackenzie Investments was founded in 1967, and is
a leading investment management firm providing investment advisory and related
services. With $65.0 billion in assets under management, 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 $126 billion in total assets under

For further information:

For further information: Catharine Marion, Environics Communications,
(416) 969-2809,

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