TORONTO, May 27, 2011 /CNW/ - Mackenzie Financial Corporation (Mackenzie
Investments) is pleased to announce that it has strengthened its
high-yield investment capabilities by adding Putnam Investments as
sub-advisor to several Mackenzie high-yield corporate bond funds,
effective June 1, 2011.
Putnam Investments appointed as sub-advisor on high yield funds
Putnam will assume Portfolio Management responsibilities for Mackenzie
Sentinel Corporate Bond Fund, Mackenzie Sentinel North American
Corporate Bond Class, and Mackenzie Sentinel Registered North American
Corporate Bond Fund, as well as becoming one of the managers on the
high-yield fixed income mandate of Symmetry Fixed Income Class and
Symmetry Registered Fixed Income Fund.
"Over the years, Putnam has built a comprehensive fixed income
capability driven by an extraordinarily deep and talented team who have
worked together, in many cases, for well over 10 years," said Charles
R. Sims, President and Chief Executive Officer of Mackenzie Financial
Corporation. "The team has an enormous breadth of expertise
particularly in high-yield credit."
Putnam's North American fixed income corporate credit team is composed
of four portfolio managers, supported by 19 credit sector specialists
that are part of a broader fixed income team totaling 70+ members.
Average investment experience of the senior fixed-income investment
management team is 20+ years with an average tenure at Putnam of more
than 10 years.
Mackenzie Sentinel Strategic Income
Effective, June 1, 2011, Mackenzie Sentinel Strategic Income Class and
Mackenzie Sentinel Registered Strategic Income Fund will be managed by
Steve Locke, Sentinel Team Lead and Norman Raschkowan, Mackenzie Maxxum
Team Lead. Steve and Norman will work closely together, as they
currently do on the award-winning Mackenzie Sentinel Income Fund1, with Steve focusing on high-income fixed income securities, while
Norman focuses on high-income equity securities.
Putnam Investments, Steve Locke and Norman Raschkowan replace Dan
Bastasic on the funds noted above.
Founded in 1937, Putnam Investments is a leading global money management
firm with over 70 years of investment experience. The firm was recently
named one of the top 15 mutual fund families by Lipper/Barron's for the
second consecutive year. At the end of April 2011, Putnam had $130
billion in assets under management, including mutual fund assets of $71
billion and institutional assets of $59 billion. Putnam has offices in
Boston, London, Frankfurt, Amsterdam, Tokyo, Singapore and Sydney. For
more information, visit putnam.com.
Putnam Investments and Mackenzie Investments became affiliates in 2007
when Great-West Lifeco Inc. acquired Putnam Investments. Great-West
Lifeco Inc. is a member of the Power Financial Corporation group of
Mackenzie Investments was founded in 1967, and is a leading investment
management firm providing investment advisory and related services.
With $71.1 billion in assets under management as of April 30, 2011,
Mackenzie Investments distributes its services through a diversified
network of third-party financial advisors. 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 $134 billion in total assets under management as of April 30,
2011. For more information, visit mackenziefinancial.com.
1 Mackenzie Sentinel Income Fund awarded the 2011 Lipper award for best
10-year risk-adjusted performance
SOURCE Mackenzie Financial Corporation
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