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Murray Taylor, CEO of Investors Group.
Murray Taylor, CEO of Investors Group.

Mackenzie Financial cuts fund lineup

Editor's note: A previous version of this story stated that Mackenzie is phasing out its precious metals fund. This fund is being combined with another precious metals fund.

Mackenzie Financial Corp. is merging and renaming many of its mutual funds in a massive effort to pare down its lineup.

The changes will take 29 funds off the shelf (about a third of Mackenzie’s current lineup) in a move that highlights the challenges facing many fund companies: Products need to be retooled to adjust to higher regulatory costs, reduced investor appetite for risk and declining margins.