TORONTO, Aug. 16 /CNW/ - Mackenzie Financial Corporation (Mackenzie
Investments) announces the launch of Mackenzie Cundill Global Dividend Fund.
On August 15, 2007, unitholders approved a mandate change to Mackenzie
Universal World Growth RRSP Fund, which is effective immediately. The Fund's
name will be changed on August 17, 2007 to Mackenzie Cundill Global Dividend
The Fund offers tax-efficient monthly distributions, exposure to
excellent value opportunities globally and access to the Cundill investment
style that has been so successful for the last 32 years. Additionally, the
Fund will extensively hedge its foreign currency exposure as a matter of
strategy to reduce volatility.
The Fund's Series A units will pay a monthly distribution equal to 5% per
annum. Series T6 and Series T8 versions of Cundill Global Dividend Fund will
be offered for sale on August 27, 2007. Series T6 funds provide investors with
tax-efficient monthly income of 6 per cent annually, while Series T8 funds
provide investors with tax-efficient monthly income of 8 per cent annually.
"We expect Cundill Global Dividend Fund to appeal to investors for many
reasons," said David Feather, president of Mackenzie Financial Services Inc.
"The Fund is managed by Cundill, a name trusted by investors across Canada,
and with three tax efficient distribution options to choose from, investors
can match their income stream to their cash flow needs."
The Fund will be managed by vice presidents David Tiley, Wade Burton,
Lawrence Chin, and founder and CIO of the Cundill Division, Peter Cundill.
Each Fund manager specializes in a specific geographic area; David Tiley is
the European equity specialist, Lawrence Chin (US), Wade Burton (Canada) and
Peter Cundill (global equities).
A US dollar version will also be available as of August 27, 2007.
Mackenzie Investments: Mackenzie Investments was founded in 1967, and is
a leading investment management firm providing investment advisory and related
services. With $64.6 billion in assets under management as of July 31, 2007,
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 $125 billion in total
assets under management as of July 31, 2007.
For further information:
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