Mackenzie Investments announces fund changes

TORONTO, Nov. 16 /CNW/ - Mackenzie Financial Corporation ("Mackenzie Investments") today announced proposed changes to Mackenzie Universal European Opportunities Fund, Mackenzie Universal European Opportunities Class and Mackenzie Ivy European Class.

Change of portfolio manager
Effective on or about November 29, 2010, the Mackenzie Ivy team will be appointed portfolio managers of Mackenzie Universal European Opportunities Fund and Mackenzie Universal European Opportunities Class. Concurrent with the portfolio management change, Mackenzie Universal European Opportunities Fund will change its name to Mackenzie Ivy European Fund.

As a result of Mackenzie's Ivy investment team assuming portfolio management responsibilities, there will be modifications to the investment strategies of the funds to align with the investment approach of Mackenzie Ivy European Class. 

Proposed fund merger
Mackenzie Investments plans to merge Mackenzie Universal European Opportunities Class with Mackenzie Ivy European Class. The merger, which has been reviewed and approved by the Mackenzie Funds' Independent Review Committee (IRC), would consolidate two funds that have similar investment objectives and the same portfolio manager.

The merger is expected to take place in the first half of 2011.Investors in Mackenzie Universal European Opportunities Class will be provided at least 60 days notice prior to the merger.

The merger is conditional upon approval by investors in Mackenzie Ivy European Class.

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 Ivy European Class. Prospective investors may obtain these materials from Mackenzie Investments prior to the meeting. A special meeting of investors of Mackenzie Ivy European Class to consider and vote on the proposed merger is scheduled for March 25, 2011 at Mackenzie's office in Toronto. If approved, the merger is expected to be effective on or about March 29, 2011.

Mackenzie Investments: Mackenzie Investments was founded in 1967, and is a leading investment management firm providing investment advisory and related services. With $65.7 billion in assets under management as of October 31, 2010, 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 $124 billion in total assets under management as of October 31, 2010.

For further information:

Trish Tervit
Environics Communications Inc.
416-969-2809
[email protected]