TORONTO, Nov. 13 /CNW/ - Mackenzie Financial Corporation ("Mackenzie Investments") today announced its proposal to merge Mackenzie Universal World Science & Technology Class into Mackenzie Universal Technology Class. The merger would consolidate two funds that have similar investment objectives and the same portfolio manager.
The merger, which has been reviewed by the Mackenzie Funds Independent Review Committee, is conditional upon approval by investors in Mackenzie Universal Technology Class. Investors in Mackenzie Universal World Science & Technology Class will be sent a notice at least 60 days prior to the merger.
Full details about the proposed merger will be outlined in a Management Information Circular and Proxy and sent to all investors of record in Mackenzie Universal Technology Class in February 2010. A special meeting to consider and vote on the proposal will be held mid March 2010 at Mackenzie's offices in Toronto. If approved, the merger is expected to be effective following the special meeting.
Mackenzie Investments was founded in 1967, and is a leading investment management firm providing investment advisory and related services. With $61.4 billion in assets under management as of October 31, 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 $116 billion in total assets under management as of October 31, 2009.
SOURCE Mackenzie Financial Corporation
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