TORONTO, April 11, 2012 /PRNewswire/ – Mackenzie Financial Corporation
(Mackenzie Investments) today announced the following fund
reorganizations (“mergers”) and terminations that are expected to be
effective on or about June 15, 2012:

Fund Reorganizations
Mackenzie Saxon U.S. Equity Fund will merge into Mackenzie Universal
American Growth Class (Unhedged Class), Mackenzie Ivy American Class
will merge into Mackenzie Universal U.S. Blue Chip Class and Mackenzie
Universal Canadian Value Class will merge into Mackenzie Cundill
Canadian Security Class.

These mergers have received approval from the Independent Review
Committee (IRC) of the Mackenzie Funds and investors in the funds will
be provided 60 days’ notice.

Additionally, Mackenzie proposes to merge Mackenzie Saxon Explorer Class
into Mackenzie Universal North American Growth Class. This merger is
conditional upon investor and regulatory approval and full details
about the proposed merger will be outlined in a Management Information
Circular and Proxy to be mailed to investors of record in May. A
special meeting of investors to consider and vote on the proposed
merger is scheduled for June 12, 2012 at Mackenzie’s office in Toronto.

Fund Terminations
Mackenzie will terminate Mackenzie Universal Africa & Middle East Class,
Mackenzie Universal Sustainable Opportunities Class and Mackenzie
Sentinel U.S. Managed Yield Class. Investors in these funds will be
provided 60 days’ notice. Each fund’s shares will be redeemed and its
investors will receive units of Mackenzie Sentinel Money Market Fund as
proceeds of redemption.

Effective immediately Mackenzie Universal Africa & Middle East Class,
Mackenzie Universal Sustainable Opportunities Class and Mackenzie
Sentinel U.S. Managed Yield Class are closed to new purchases.

Mackenzie Investments: Mackenzie Investments was founded in 1967, and is a leading investment
management firm providing investment advisory and related services.
With $64.4 billion in assets under management as at March 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 over $124 billion in total assets
under management as at March 31, 2012. For more information, visit www.mackenziefinancial.com.

SOURCE Mackenzie Investments