Briefly: “Mackenzie alters two mandates” and more news

Mackenzie Financial has announced the appointment of FSX Securities Canada as portfolio sub-advisor of Mackenzie Universal World Real Estate Class, effective November 1, 2010.

FSX Securities Canada is a wholly owned subsidiary of Forum Securities Limited, a global investment management firm with over $800 million in assets under management and employees in offices in Asia, Europe and North America.

Mackenzie has also announced it is raising the foreign content limit for the Mackenzie Ivy Growth & Income Fund, from 30% to 49%, effective on or about November 5, 2010.

– Steven Lamb

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Sentry Select proposes fund mergers

Sentry Select Capital has proposed the merger and termination of three funds, to follow their merger into somewhat similar mandates.

Under the plan, Sentry Select Commodities Income Trust would be merged with Sentry Energy Growth and Income Fund; Oil Sands and Energy Mega-Projects Trust would be merged into Sentry Energy Growth and Income Fund; and Premier Value Income Trust would be merged into Sentry Canadian Income Fund.

Special meetings of unitholders will be held concurrently on or about January 10, 2011 to seek approval for the mergers. All costs and expenses associated with the mergers will be borne by the manager. The mergers would be effected on a taxable basis.

– Steven Lamb

(10/29/10)

Staff

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