By Staff | August 5, 2010 | Last updated on August 5, 2010
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Mackenzie Financial has called unitholder meeting to consider the fate of the Mackenzie Saxon U.S. Small Cap Fund and Mackenzie Saxon Global Small Cap Fund.

Investors in the two funds will be asked to vote on a proposal to terminate the funds, subject to a recommendation to proceed from the Independent Review Committee (IRC) of the Mackenzie Funds.

According to Mackenzie, the two funds are under scrutiny is because of their limited size, both in terms of assets and unitholders. No further purchases will be accepted after the close of business on August 5, 2010.

The meetings will be held on November 12, 2010 at Mackenzie’s head office in Toronto.

Prior to the termination date, unitholders of the terminating funds may switch into another Mackenzie fund.

– John Powell

• • •

Bignell joins Omega ATS

Omega ATS is welcoming Mike Bignell into their ranks.

The former senior vice-president of operations and chief compliance officer for Fidelity Clearing Canada (FCC) joins Omega as its new president and CCO.

While at FCC, Bignell worked with team members from Tactico, the international advisory firm that purchased a 24% equity stake in the ATS in February 2010. Bignell was responsible for overseeing the development of the firm’s operational and compliance policies and procedures and supervising day-to-day activities including registered plans, corporate actions, dividends, custody, metrics development, reporting and customer service.

“The trading venue’s current profitability and aggressive growth combined with market factors such as Alpha no longer offering equity for volume, make this a compelling challenge for me. I am committed to capitalizing on the current upward trending success of the ATS until it eclipses the competition,” said Bignell about the opportunity.

– John Powell

• • •

Manulife appoints Lindsay to board

Donald R. Lindsay has joined the board of directors at Manulife, effective August 1.

“Don Lindsay’s strong financial background, knowledge of Asia and management expertise will benefit the Board significantly,” said Manulife chair Gail Cook-Bennett.

Lindsay, the president and CEO of Teck Resources Limited, spent almost two decades with CIBC World Markets, where he served as president after periods as head of investment and corporate banking and head of the Asia Pacific region.

– John Powell

(08/05/10) staff


The staff of have been covering news for financial advisors since 1998.