TORONTO, March 24, 2016 /CNW/ - As part of our ongoing effort to deliver competitive risk-adjusted returns, Mackenzie Financial Corporation (Mackenzie Investments) is announcing changes to the Cundill boutique that build on its legacy of value investing principles. Jonathan Norwood and Richard Wong, each with demonstrated successful track records and proven expertise in value investing for retail and institutional investors, have joined Mackenzie Investments as Vice President and Portfolio Manager and will co-lead the Mackenzie Cundill team.
"The Cundill name has a storied heritage and is synonymous with value investing. At Mackenzie, we are committed to continuing that tradition while providing even stronger investment expertise with the addition of these seasoned portfolio management professionals," said Tony Elavia, Chief Investment Officer of Mackenzie Investments. "The Cundill boutique will benefit from the added portfolio construction skill-sets of these portfolio managers who have proven expertise in global value investing with institutional asset managers."
Jonathan Norwood, CFA, has more than 18 years of experience in portfolio management, equity research and financial modelling, including tenure at a subsidiary of one of the largest mutual life insurance companies in Canada. Richard Wong, CFA, has more than 18 years of fundamental equity analysis and portfolio construction experience, including serving as a global portfolio manager at a Canadian institutional value investment firm.
"The disciplined value investing style in the tradition of the late Peter Cundill, a legendary investor and former Chairman emeritus of Mackenzie Cundill, will be further enhanced with the addition of these two managers," said Jeff Carney, President and Chief Executive Officer of Mackenzie Investments.
Mr. Norwood and Mr. Wong will manage Mackenzie Cundill Value Fund and Mackenzie Cundill Value Class and join the portfolio management team for Mackenzie Global Concentrated Equity Fund, Mackenzie Global Concentrated Equity Class and Mackenzie Global Diversified Equity Class.
As part of these changes, Mr. Norwood and Mr. Wong along with William Aldridge, CFA, Vice-President and Portfolio Manager, join the portfolio management team for Mackenzie Cundill Canadian Security Fund, Mackenzie Cundill Canadian Security Class, Mackenzie Canadian Concentrated Equity Fund and Mackenzie Cundill Canadian Balanced Fund. In addition, Mr. Norwood will manage Mackenzie Cundill US Class and Mr. Wong will join the portfolio management team for the portions of the Symmetry Portfolios managed by the Mackenzie Cundill team.
Mackenzie Investments is also announcing the following changes. Lawrence Chin, Senior Vice President and co-lead of the Mackenzie Cundill team, will be leaving the firm to pursue a career opportunity outside of the mutual fund industry effective April 30, 2016. We thank Mr. Chin for his contributions to Mackenzie Investments over the last 10 years and wish him all the best in his new career endeavours. Andrew Massie, Senior Vice President and co-lead of the Mackenzie Cundill team, will be retiring effective August 31, 2016 after over 30 years in the mutual fund industry. We thank Mr. Massie for his contributions and wish him all the best in his retirement.
About Mackenzie Investments
Mackenzie Investments was founded in 1967, and is a leading investment management firm providing investment advisory and related services. With $59.1 billion in assets under management as at February 29, 2016, Mackenzie Investments distributes its investment services through multiple distribution channels to both retail and institutional investors. 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 $129 billion in total assets under management as at February 29, 2016. For more information, visit mackenzieinvestments.com.
SOURCE Mackenzie Investments
For further information: Trish Tervit, Director, Communications and Media Relations, Mackenzie Investments, 416-967-2166, [email protected]