Mackenzie Ivy Funds Distribution has renamed three of its mutual fund portfolios as part of a plan to streamline its offerings.
The funds, which formerly carried the Mackenzie label, will now be known as the Ivy Canada Fund, the Ivy Global Fund, and the Ivy Short-Term U.S. Government Securities Fund.
A fourth portfolio, the Mackenzie Fixed Income Trust, is in the process of changing its name to the Ivy Bond Fund.
The name changes are "another step" in combining the Mackenzie and Ivy fund companies, said Keith J. Carlson, executive vice president of the company. Mackenzie acquired Ivy Management Inc. in December 1991.
The company, which is based in Boca Raton, Fla., has selling agreements with several banks, including Barnett Banks Inc., and a number of credit unions, according to a company spokeswoman.
Mackenzie Ivy is also adding some new portfolios. Last week, it introduced the Ivy Latin America Strategy Fund and the Ivy New Century Fund, bringing the number of international products in the fund family to six.
"We believe the trend toward international investing is a long-term one," said Michael G. Landry, Mackenzie Ivy's president.
The Mackenzie Ivy funds have more than $1.3 in assets in 19 portfolios.
-- Kalen Holliday
