Mackenzie to merge funds

Toronto-based Mackenzie Financial Corp. plans to streamline its product offering with three proposed fund mergers, the company said Friday.

The proposed mergers are:

• Mackenzie Canadian Balanced Fund will be merged into Mackenzie Strategic Income Fund;
• Mackenzie US Strategic Income Fund will be merged into Mackenzie Global Strategic Income Fund; and
• Mackenzie US Dividend Registered Fund will be merged into Mackenzie US Dividend Fund.

The first two proposed mergers are subject to investor approval. All of the above mergers, if approved, will be implemented on or about Aug. 16, Mackenzie said in a release.

Additionally, investors of the Mackenzie Canadian Resource Fund have been asked to approve a change to the fund’s investment objectives. If approved, the fund will invest in shares of resource companies operating anywhere in the world.

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