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Mackenzie to acquire sub-advisor the Cundill Group
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Mackenzie Financial Corporation, manager of the Mackenzie Cundill mutual funds, announced it has entered into an agreement to acquire all of the assets of Cundill Investment Research and related entities (the "Cundill Group"). The Cundill Group is currently sub-advisor to the Mackenzie Cundill mutual funds and other Mackenzie mandates. There will be no changes in the portfolio managers of the Mackenzie funds that the Cundill Group sub-advises, nor to the investment objectives of these funds as a result of this transaction.
The Cundill Group is one of the investment industry's most respected investment managers, renowned for its fundamental value approach. Under its long-standing strategic alliance with Mackenzie, the firm is currently sub-advisor to over $12.5 billion in assets of the Mackenzie Cundill mutual funds and other Mackenzie mandates. The Cundill Group also manages over $3 billion of institutional and high net worth mandates to a global client base.
Upon completion of the acquisition, expected by the end of the third quarter of 2006, Cundill's investment management team will operate as a separate division of Mackenzie, based in Vancouver. Peter Cundill will continue to direct the team in his role as Chief Investment Officer. All members of the Cundill investment team will continue with the new organization.
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Aug 5, 2006, 11:23 PM
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