Toronto-based Mackenzie Investments has launched two new mutual funds with a sustainable focus.
The two offerings, called the Mackenzie Greenchip Global Balanced Fund and Mackenzie Global Sustainable Bond Fund, were both introduced in response to growing demand for “investment solutions that aim to deliver both performance and societal and environmental benefits,” said Fate Saghir, head of sustainable investing at Mackenzie Investments, in a release.
The new balanced fund is “Canada’s first green balanced fund for retail investors,” the release added, noting that it will be managed by two teams.
The equity portion will be led by a Mackenzie Greenchip team that will focus on thematic investing, and invest in medium- and large-cap companies that develop products and services tied to the environmental economy.
Meanwhile, the fixed income portion of the balanced fund will be led by the Mackenzie fixed income team, investing in green bonds and other debt instruments.
The new sustainable bond fund, which will also be managed by the Mackenzie fixed income team, will invest in the fixed income securities of issuers across the globe, including environmental, social and governance (ESG)-labelled bonds.
The latter fund “is one of just a handful of sustainable fixed income products currently available in Canada,” the release said, adding that Mackenzie now offers six sustainable products in total.