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Mackenzie Proposes Merging More Than a Dozen Funds

Toronto-based Mackenzie Financial Corp. said last week that it will call a shareholder meeting in May to consider a bevy of changes to its fund lineup.

Mackenzie proposes merging more than a dozen funds in an effort to create larger portfolios that will reduce administration costs and present a more clear array of products, the company said. The proposals are also intended to eliminate some duplication of investment objectives.

The firm proposes, for example, merging the Mackenzie Universal RSP Communications Fund into the Mackenzie Universal RSP World Science and Technology Fund. Other mergers would affect real estate, emerging markets, international, and other technology funds.

David Feather, the firm's VP of marketing, said Mackenzie recognizes "that investors and advisors face a great deal of choice in the market and the more clearly we can present our investments, the more opportunity we have of attracting their business."