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Mackenzie Investments to change two Saxon mutual funds

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Mackenzie Investments is making changes to the Mackenzie Saxon International Equity Fund and the Mackenzie Saxon World Fund.

Effective 1 October 2010, the Mackenzie Cundill team will be appointed portfolio managers of Mackenzie Saxon International Equity Fund and Mackenzie Saxon World Fund.

Concurrent with Mackenzie Cundill assuming portfolio management responsibilities, there will be modifications to the investment strategies of the funds to align with the Mackenzie Cundill investment approach. 

In addition, Mackenzie Saxon International Equity Fund will change its name to Mackenzie Cundill International Equity Fund and Mackenzie Saxon World Fund will change its name to Mackenzie Cundill World Fund.

Effective on or about 26 November, Mackenzie Investments will merge Mackenzie Cundill International Equity Fund (formerly Mackenzie Saxon International Equity Fund) into Mackenzie Cundill International Class, where Mackenzie Cundill International Class will be the continuing fund. The merger will consolidate two funds that have similar investment objectives.

Investors in Mackenzie Saxon International Equity Fund will be provided at least 60 days notice prior to the merger. The merger has been approved by the Mackenzie Funds’ Independent Review Committee. In connection with the merger, securities of Mackenzie Saxon International Equity Fund will no longer be available for purchase effective the close of business on 29 October 2010.

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