Toronto-based Mackenzie Financial Corp. announced on Tuesday that unitholders in several of its mutual funds have approved changes, which will affect the investment objectives of two products and see the termination of nine other funds.
The investment objectives and strategies of Mackenzie Global Concentrated Equity Fund will change to reflect a rules-based investment approach that seeks to create a well-diversified portfolio with balanced exposures across sectors, industries and risk factors. Rick Weed, senior vice president and portfolio manager at Mackenzie, will be named lead portfolio manager of the fund.
In addition, Mackenzie Canadian Growth Fund’s investment objective is being clarified to remove references to fixed-income and government securities but that will not impact the fund’s current or future holdings, according to the firm’s announcement.
The asset-management firm is also terminating nine funds and has designated the continuing corresponding funds for investors. These include:
- Mackenzie Global Asset Strategy Fund will be terminated and Mackenzie Global Strategic Income Fund will continue.
- Mackenzie Real Return Bond Fund will be terminated and Mackenzie Canadian Bond Fund will continue.
- Mackenzie Global Bond Fund will be terminated and Mackenzie Global Tactical Bond Fund will continue.
- Mackenzie All Cap Dividend Class will be terminated and Mackenzie Canadian All Cap Dividend Class will continue.
- Mackenzie Canadian Concentrated Equity Fund will be terminated and Mackenzie Canadian Growth Fund will continue.
- Mackenzie Diversified Equity Fund and Mackenzie Global Diversified Equity Class will both be terminated and Mackenzie Global Dividend Fund will continue.
- Mackenzie Global Concentrated Equity Class will be terminated and Mackenzie Global Concentrated Equity Fund will continue.
- Mackenzie USD Convertible Securities Fund will be terminated and Mackenzie USD Global Tactical Bond Fund will continue.
All changes are in effect Nov. 25.
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