Mackenzie Investments announces proposed changes to two Saxon International
mutual funds

TORONTO, Sept. 20 /CNW/ - Mackenzie Financial Corporation ("Mackenzie Investments") today announced the following changes to Mackenzie Saxon International Equity Fund and Mackenzie Saxon World Fund:

Changes in portfolio managers and investment strategies; fund name changes
Effective October 1, 2010, the Mackenzie Cundill team will be appointed portfolio managers of Mackenzie Saxon International Equity Fund and Mackenzie Saxon World Fund.

Concurrent with Mackenzie Cundill assuming portfolio management responsibilities, there will be modifications to the investment strategies of the funds to align with the Mackenzie Cundill investment approach.  In addition, Mackenzie Saxon International Equity Fund will change its name to Mackenzie Cundill International Equity Fund and Mackenzie Saxon World Fund will change its name to Mackenzie Cundill World Fund.

Fund merger
Effective on or about November 26, 2010, Mackenzie Investments will merge Mackenzie Cundill International Equity Fund (formerly Mackenzie Saxon International Equity Fund) into Mackenzie Cundill International Class, where Mackenzie Cundill International Class will be the continuing fund. The merger will consolidate two funds that have similar investment objectives.

Investors in Mackenzie Saxon International Equity Fund will be provided at least 60 days notice prior to the merger. The merger has been approved by the Mackenzie Funds' Independent Review Committee. In connection with the merger, securities of Mackenzie Saxon International Equity Fund will no longer be available for purchase effective the close of business on October 29, 2010. 

Further details about the above changes will be available in the sixth amendments filed in respect of the funds' Simplified Prospectus and Annual Information Form at www.mackenziefinancial.com or at www.sedar.com.

Mackenzie Investments: Mackenzie Investments was founded in 1967, and is a leading investment management firm providing investment advisory and related services. With $62.4 billion in assets under management as of August 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 $118 billion in total assets under management as of August 31, 2010.

For further information:

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