TORONTO, Feb. 27, 2014 /CNW/ - Mackenzie Financial Corporation (Mackenzie Investments) today announced proposed changes to the investment objectives and strategies of Mackenzie Global Diversified Income Fund (the "Fund").
Currently the Fund invests in other Mackenzie funds. The Fund's portfolio will now invest directly in securities. If the proposed changes are approved, the Fund will be renamed Mackenzie Global Strategic Income Fund and will be managed by the Mackenzie Fixed Income Team, led by Steve Locke, and the Mackenzie Global Equity & Income Team, led by recently hired Darren McKiernan.
There is a strong and growing trend for Canadians, particularly those in retirement, to seek regular income. This Fund has the flexibility to invest in income-generating securities from any sector and asset class, anywhere in the world, as this approach provides the portfolio managers with access to the greatest income opportunities available. The Fund will share the same flexible income approach as the proven Mackenzie Strategic Income Fund, but with a broader global focus, and will appeal to those seeking a well-diversified global income strategy. The Fund changes follow the recent launch of Mackenzie Floating Rate Income Fund and Mackenzie Strategic Bond Fund, both of which also address growing investor need for income.
The proposed changes are subject to approval by the Fund's investors at a special meeting called for that purpose. The special meeting is scheduled for April 29 at the Mackenzie Investments office in Toronto. Full details of the proposed changes will be outlined in a Management Information Circular that will be mailed to investors on or about April 3. If approved at the special meeting, the proposed changes are expected to be effective on or about April 30, 2014.
Mackenzie Investments was founded in 1967, and is a leading investment management firm providing investment advisory and related services. With $65.9 billion in assets under management as at January 31, 2014, Mackenzie Investments distributes its investment services through multiple distribution channels to both retail and institutional investors. 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 $132.3 billion in total assets under management as at January 31, 2014. For more information, visit mackenzieinvestments.com.
SOURCE: Mackenzie Investments
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