TORONTO, Dec. 18 /CNW/ - Mackenzie Financial Corporation ("Mackenzie Investments") announced today that, subject to approvals, Mackenzie Ivy Canadian Fund (the "Fund") will be reorganized such that the Fund will no longer offer a Hedged Class and Unhedged Class. If approved, the Fund's Hedged Class units will be redesignated as units of the Fund without a Class distinction.
In addition, investors will be provided notice to permit the Fund to use derivatives. The notice is being given primarily to allow the Fund to engage in discretionary currency hedging to seek to insulate the Fund's returns from fluctuations in exchange rates between the Canadian dollar and foreign currencies.
The changes are expected to be effective on or after April 1, 2010.
Mackenzie Investments: Mackenzie Investments was founded in 1967, and is a leading investment management firm providing investment advisory and related services. With $62.6 billion in assets under management as of November 30, 2009, 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 $118 billion in total assets under management as of November 30, 2009.
SOURCE Mackenzie Financial Corporation
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