TORONTO, Dec. 4, 2013 /CNW/ - Mackenzie Financial Corporation (Mackenzie Investments) is pleased to announce that Darren McKiernan, CFA is joining the firm on December 6 as Senior Vice President, Investment Management and lead of the Mackenzie Global Equity & Income Team.
Mr. McKiernan has 18 years of experience in retail and institutional investing, with specialization in global equities as both a portfolio manager and investment analyst. Supporting him will be portfolio managers Eugene Profis and Ome Saidi, who have worked closely with him in the past and come to the company with significant industry experience. Mr. Profis specializes in US equities and Mr. Saidi specializes in international equities. Each has earned an MBA degree and is a CFA charterholder.
"Darren is a tremendous addition to our team," said Tony Elavia, Chief Investment Officer at Mackenzie Investments. "Investor interest in equity income funds continues to grow and Darren provides proven expertise in this area to help meet client demand. His commitment to generating strong relative risk-adjusted returns with less volatility aligns well with investors' desire for a smoother ride from their investments."
Mr. McKiernan will join Hovig Moushian as co-lead on Mackenzie Canadian Large Cap Dividend Fund/Class and Mackenzie Canadian Large Cap Dividend & Growth Fund, and co-lead on the equity portion of Mackenzie Income Fund and Mackenzie Strategic Income Fund/Class (with Steve Locke remaining the lead on fixed income). Mr. McKiernan's primary focus is on global equities while Mr. Moushian's is on Canadian equities. Each is a specialist in his respective area and together they provide dedicated, complementary expertise to managing a suite of equity income funds. As a proven global equity income investing expert, Mr. McKiernan will also manage Mackenzie Global Dividend Fund.
In light of the changes, portfolio managers Norman Raschkowan, Dinka Kucic and Joe Mastrolonardo, whose Mackenzie Large Cap Dividend Team had been involved in managing many of the funds referenced above, are leaving the company. Mackenzie Investments wishes them the best in the future. The portion of Mackenzie Canadian Concentrated Equity Fund that had been managed by the Mackenzie Large Cap Dividend Team will transition to the Mackenzie All Cap Value Team.
The investment management changes have been implemented to provide a strong structure to help the equity income and value managers uncover attractive income-producing securities worldwide, and to put the right people in the right place to help achieve enhanced long-term fund performance.
Mackenzie Investments was founded in 1967, and is a leading investment management firm providing investment advisory and related services. With $65.3 billion in assets under management as at November 30, 2013, 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 over $131 billion in total assets under management as at November 30, 2013. For more information, visit mackenzieinvestments.com.
SOURCE: Mackenzie Investments
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