Two new Mackenzie Cundill funds seek value outside North America

    Managers James Morton and Hhu Ng provide new international opportunities
    for investors

    TORONTO, April 16 /CNW/ - Mackenzie Financial Services Inc. today
announced the immediate availability of two new funds: Mackenzie Cundill
International Class and Mackenzie Cundill Emerging Markets Value Class. Both
funds will apply the Cundill deep-value, contrarian style that has been honed
over 30-plus years of successful investing.

    Award-winning management
    The lead portfolio manager of the new Emerging Markets offering will be
20-year veteran James Morton. Morton is also lead manager of Mackenzie Cundill
Recovery Fund, which won Global Equity Fund of the Year at the 2003 and 2005
Canadian Investment Awards. Mackenzie Cundill International Class will benefit
from the experience of lead manager Hhu Ng, a nine-year veteran of the Cundill
    "These two new funds build on the Cundill team's successful record of
achievement in International and Emerging Markets," said David Feather,
president of Mackenzie Financial Services Inc. "With the help of their
Financial Advisors, Canadian investors have shown a growing level of
sophistication and interest in investing outside Canada and the United States,
particularly since the removal of foreign content restrictions on Registered
Plans. The new International fund allows investors to increase their exposure
outside North America, while harnessing the stock picking talents of the
Cundill team."
    "We are also excited to once again provide investors with a vehicle to
access the stock-picking talents of James Morton," added Feather. "Since the
closing of Cundill Recovery Fund to new investments in April 2006, James has
continued to deliver excellent performance for investors. While the mandate of
the new Cundill Emerging Markets Value Class differs from that of the Cundill
Recovery Fund, this offering provides investors a chance to get in on a
ground-floor opportunity to invest with James Morton."

    Emerging Markets investments suitable for more aggressive investment
    Enthusiasm about the persistence and strength of Emerging Markets has
been an enduring theme globally, and a growing theme with Canadians. Mackenzie
Cundill Emerging Markets Value Class can invest in companies of any size, but
is expected to focus on smaller companies. It will apply a decidedly unique,
value-oriented approach, and may invest in some countries not commonly covered
by mainstream emerging markets funds. The Fund represents an exciting
opportunity for investors with longer-term investment horizons and the
capacity to tolerate higher than average levels of risk.

    New International Fund suitable for investors with moderate risk
    Mackenzie Cundill International Class will invest anywhere in the world,
except Canada and the US. The Fund, suitable for investors with a moderate
risk level, will mainly invest in equity securities, and can invest in any
size company. To a lesser extent, it may also purchase fixed income securities
including high-yielding bonds.

    Cundill backgrounder
    The Cundill deep-value, contrarian investment approach traces its roots
back to the originator of the value school of investing, Benjamin Graham, who
described it in the 1934 investment classic, Security Analysis. Managers seek
out securities of companies trading at discounts to the portfolio managers'
estimate of intrinsic value, as determined by analyzing financial statements,
business prospects and management strengths. In addition, the Cundill team
seeks to identify catalysts that could cause stock prices to increase.
    The first Cundill fund, Mackenzie Cundill Value Fund, was launched in
1975. Cundill funds became part of the Mackenzie line-up in 1998. In 2006,
Mackenzie completed its purchase of Cundill Investment Research Ltd.
    Cundill funds have been named Global Equity Fund of the Year at the
Canadian Investment Awards in 2003, 2004, 2005 and 2006: Cundill Recovery in
'03 and '05, Cundill Value in '04 and '06.
    Mackenzie Cundill Recovery Fund was closed to new investments in April
2006, in order to maintain the unique approach of the Fund and serve the
interests of existing investors. At the time of its closure, it was one of
Mackenzie's top-selling funds on a net basis.
    Mackenzie Cundill Emerging Markets Value Class is the only other fund
sold in Canada through which investors can access James Morton.
    James Morton has over 25 years of investment industry experience, with
extensive expertise in recovering companies, particularly smaller-company
value situations. He is an accomplished author, editor and columnist of
investment topics. He holds a degree in Law from Trinity Hall, Cambridge
University (1975), and an MA (1979) and MBA from Stanford University (1979).
    There are 11 experienced investment professionals at Cundill contributing
to the investment selection process. Hhu Ng is lead manager of a global fund
available to US residents called Ivy Cundill Global Value Fund.

    Mackenzie Investments
    Mackenzie Investments was founded in 1967, and is a leading investment
management firm providing investment advisory and related services. With $63.7
 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 $123 billion in total assets under management.

    Commissions, trailing commissions, management fees and expenses all may
be associated with mutual fund investments. Please read the prospectus before
investing. Mutual funds are not guaranteed, their values change frequently and
past performance may not be repeated.

For further information:

For further information: Catharine Marion or Mike Langdon, Environics
Communications Inc., (416) 969-2809, (416) 969-2820,,

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