announcement_4

Mackenzie Investments announced today that, effective on or about August 14, 2014, Alain Bergeron, senior vice president and asset allocation team lead, will assume responsibility for asset allocation in eight Mackenzie balanced funds, as follows:

  • Mackenzie Canadian All Cap Balanced Fund
  • Mackenzie Canadian All Cap Balanced Class

Read: Mutual fund AUM reaches $1.08 trillion

  • Mackenzie Canadian Growth Balanced Fund
  • Mackenzie Canadian Large Cap Balanced Fund
  • Mackenzie Cundill Canadian Balanced Fund
  • Mackenzie Income Fund
  • Mackenzie Ivy Canadian Balanced Fund
  • Mackenzie Ivy Global Balanced Fund

Bergeron is also responsible for the oversight of Symmetry Portfolios, Mackenzie Investments’ managed asset program, as well as the diversified fund-of-fund strategies and the concentrated funds of best ideas.

Clarification of balanced fund investment strategies

Mackenzie Investments will be amending the investment strategies of the eight above mentioned balanced funds to specify each fund’s ability to allocate its assets between equity and fixed income securities. These amendments will be made on or about August 14, 2014.

Read: Long-term bonds boost U.S funds

Subject to investor approval, Mackenzie Ivy Global Balanced Fund and Mackenzie Ivy Canadian Balanced Fund will change their objectives to allow for increased flexibility regarding the funds’ asset allocation among equity securities and fixed income securities. Full details will be outlined in a Management Information Circular and Proxy to be mailed in July to investors of record. The proposed amendments will not impact the risk ratings of the funds.

A special meeting of investors to consider and vote on these proposed amendments is scheduled for August 13, 2014, at the Mackenzie Investments office in Toronto.

Sub-advisor change to Mackenzie US Large Cap Growth Fund

Effective on or about September 15, 2014, Mackenzie US Large Cap Growth Fund will be managed by Putnam Investments. Putnam Investments is a leading US investment management firm that brings deep experience and a proven track record.

In conjunction with this sub-advisor change, Mackenzie US Large Cap Growth Fund will be renamed Mackenzie US All Cap Growth Fund to reflect Putnam’s approach to diversifying across all market capitalizations.

Read: A smooth exit from character conversion funds

Originally published on Advisor.ca

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