Mackenzie Financial Corp. announced Friday that it has served notice to terminate its relationship agreement with Zurich Scudder Investments Inc., and notices of termination have been given by the above funds as to their investment advisor agreements with Zurich Scudder.

The decision to terminate the relationship follows a change of control of Zurich Scudder, which is in the process of being acquired by Deutsche Bank AG.

The Scudder relationship with Mackenzie began when MAXXUM operations were combined with Mackenzie on October 6, 2001. In order to take a more focused approach to the management of specific asset pools, and benefit from greater efficiencies of scale, MAXXUM’s investment management operation was brought under Mackenzie’s investment management operation in Toronto. Scudder currently acts as advisor for 11 funds for Mackenzie with combined assets of approximately $506 million.

The 11 funds are: Mackenzie Financial Corporation; Scudder Canadian Bond Fund; Scudder Canadian Equity Fund; Scudder Canadian Money Market; Scudder Canadian Short Term Bond Fund; Scudder Canadian Small Company Fund; Scudder Emerging Markets Fund; Scudder Global Fund; Scudder Greater Europe Fund; Scudder Life Sciences Fund; Scudder Pacific Fund; and Scudder U.S. Growth and Income Fund.

“We appreciate the support we have received from Scudder, and with Deutsche Bank’s leading investment capabilities we will explore opportunities to work together in the future,” said David Feather, executive vice president at Mackenzie Financial. “As always, however, it is important for us to be strategic in our offerings and our investment management teams. With this change, we’re further streamlining our products and management to best serve the interests of advisors and investors today.”

“Unitholders and their financial advisors will be contacted regarding these funds in the coming weeks,” added Feather.

The management transition will follow a 90-day notification period.