Mackenzie and Quadrus to merge seven mutual funds

Mackenzie Investments and Quadrus Investment Services Ltd. plan to merge seven mutual funds early next year.

The mergers will “simplify the Quadrus Group of Funds product offering for investors,” the firms said in a release.

The proposed mergers are:

Existing Fund (terminating)	To be merged into (continuing Fund)
Short Term Bond Fund (Portico)	Money Market Fund
Real Return Bond Fund (Portico)	Core Bond Fund (Portico)
Canadian Equity Class	Canadian Dividend Class¹ (Laketon)
North American Specialty Class	Mackenzie U.S. Mid Cap Growth Class¹
U.S. and International Equity Class	Global All Cap Equity Class (Setanta)¹
U.S. and International Specialty Class	Global All Cap Equity Class (Setanta)¹
U.S. Value Fund (London Capital)	U.S. Value Fund (Putnam)

Investors in the funds need to approve the mergers, which would take effect Feb. 8.

Merger of two Mackenzie funds

Mackenzie Investments is proposing to merge two of its funds.

The Mackenzie Canadian All Cap Dividend Fund will be merged into the Mackenzie Canadian Large Cap Dividend Fund, the firm said in a release.

Investors in the Mackenzie Canadian Large Cap Dividend Fund are also being asked to approve a strategic change to the fund. The change will let the fund invest in mutual fund securities just as the Mackenzie Canadian All Cap Dividend Fund currently does.

The firm is also proposing the Mackenzie Canadian All Cap Dividend Class be merged into the Mackenzie Canadian Large Cap Dividend Class, the release said.

Those changes would also take effect on Feb. 8, with investor approval.

Staff

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

Merger of two Mackenzie funds

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