TORONTO, Sept. 21, 2012 /CNW/ - Mackenzie Financial Corporation (Mackenzie Investments) announced the results of today's special meetings of investors in Symmetry Equity Class, Symmetry Fixed Income Class and Symmetry Registered Fixed Income Fund.
Investors approved the proposed changes to the investment objectives of the three aforementioned Symmetry funds. The changes will be effective upon the renewal of the simplified prospectus for the Mackenzie Funds, which is expected to occur in early October.
Effective January 1, 2013, regular monthly distributions will be discontinued on all currently offered series of Mackenzie Maxxum Dividend Growth Fund. Investors who wish to receive regular monthly distributions from this fund will have the option to switch into Series T5 securities, which have been created for this purpose. Cash distributions on the existing series of this fund will be discontinued after the December 2012 payment.
Also effective January 1, 2013, all series of Mackenzie Sentinel Income Fund will pay a monthly distribution at an annualized rate of 5% of the net asset value as at the end of the preceding year. When these changes become effective, Series T5 securities of Mackenzie Maxxum Dividend Growth Fund and all series of Mackenzie Sentinel Income Fund will be eligible for Mackenzie's Flexible Payout Service, which allows investors to customize cash payouts to suit their individual needs.
Mackenzie Investments: Mackenzie Investments was founded in 1967, and is a leading investment management firm providing investment advisory and related services. With $59.9 billion in assets under management as at August 31, 2012, Mackenzie Investments distributes its investment services through multiple distribution channels to both retail and institutional investors. Mackenzie Investments is a member of the IGM Financial Inc. (TSX: IGM) group of companies. IGM Financial is one of Canada's premier financial services companies with $117.7 billion in total assets under management as at August 31, 2012. For more information, visit www.mackenziefinancial.com.
SOURCE Mackenzie Investments