(November 17 – 19:00 ET) – Mackenzie Financial Corp. is cutting its new Managed Yield funds’ management fees by 0.25% for all series, effective immediately, until December 31, 2001.

Mackenzie Canadian Managed Yield Class and Mackenzie U.S. Managed Yield Class are two of 30 funds within the tax-efficient capital class structure recently established by Mackenzie.

Mackenzie also announced today that Daniel Chan of UOB Asset Management will be joining the portfolio sub-advisory team for Mackenzie Financial Services capital class. The fund invests primarily in equities of companies in any country which are engaged in the financial services or related industries.

Chan will be responsible for the Asian and Australian portion of the fund. He joins portfolio sub-advisors from DWS Investment GmbH and Brinson Partners Inc. who are responsible for the North American and European portions of the fund.

Chan is the managing director and chief investment officer of UOB, the largest Singapore-based fund manager, where he leads a team of 30 portfolio managers and investment analysts. He replaces Frank Lim, who is leaving UOB to pursue other ventures.
– IE Staff