TORONTO, Jan. 7, 2016 /CNW/ - Mackenzie Financial Corporation (Mackenzie Investments) announces the formation of a new Canadian Growth investment boutique led by renowned industry veteran Dina DeGeer, together with David Arpin and Shah Khan, managing over $1 billion in client assets. With more than 50 years of combined expertise, this Lipper award-winning team previously from Bluewater Investment Management Inc. joined Mackenzie Investments effective January 4, 2016. As a result of this change, Mackenzie Investments becomes the sole portfolio advisor for Mackenzie Canadian Growth Fund, Mackenzie Canadian Growth Balanced Fund, Mackenzie Canadian Concentrated Equity Fund and Symmetry Canadian Equity Fund.
"I am thrilled to welcome Dina DeGeer and her team to the Mackenzie family. This change augments our premier portfolio management capabilities and strengthens our firm," said Jeff Carney, President and CEO of Mackenzie Investments.
"The team has successfully managed key Mackenzie Investments mandates for 20 years. This new boutique offers a proven track record that further complements our investment management talent," said Tony Elavia, Executive Vice President and Chief Investment Officer.
At November 30, 2015, Mackenzie Canadian Growth Balanced Fund Series A ranked in the top decile in its category over 1, 3, 5 and 10 years. In its category, Mackenzie Canadian Growth Fund Series A ranked in the top decile over 1 and 3 years and top quartile over 5 and 10 years. Both funds have 5-Star Morningstar ratings.
Morningstar Star Ratings reflect performance of Series A units as of November 30, 2015 and are subject to change monthly. The ratings are an objective, quantitative measure of a fund's historical risk-adjusted performance relative to other funds in its category. Only funds with at least a three-year track record are considered. The overall star rating for a fund is a weighted combination calculated from a fund's 3, 5, and 10-year returns, as available, measured against the 91-day treasury bill and peer group returns. A fund can only be rated if there are a sufficient number of funds in its peer group to allow comparison for at least three years. If a fund scores in the top 10% of its fund category, it gets 5 stars; if it falls in the next 22.5%, it receives 4 stars; a place in the middle 35% earns a fund 3 stars; those in the next 22.5% receive 2 stars; and the lowest 10% receive 1 star. For more details on the calculation of Morningstar Star Ratings, see www.morningstar.ca. Quartile rankings and peers beaten are calculated by Mackenzie Investments based on the fund series-level data Morningstar provides. The CIFSC categories, Star Ratings and number of funds in each category for the standard periods are: Mackenzie Canadian Growth Fund Series A, Canadian Focused Equity category: 3 years - 5 stars (419 funds), 5 years - 4 stars (273 funds), 10 years - 5 stars (146 funds). Mackenzie Canadian Growth Balanced Fund Series A, Canadian Equity Balanced category: 3 years - 5 stars (342 funds), 5 years - 5 stars (246 funds), 10 years - 5 stars (91 funds).
Each year Lipper® recognizes funds that lead the way in delivering strong, risk-adjusted performance. In Canada, Lipper® recognizes the most successful funds for their performance over one, three, five, and 10-year periods.
Lipper® tracks 125,000 funds worldwide. The Lipper® Fund Awards recognize funds that have delivered consistently strong risk-adjusted performance relative to their peers. Strong risk-adjusted performance is desirable because it is an indication of consistent, strong returns.
About Mackenzie Investments
Mackenzie Investments was founded in 1967, and is a leading investment management firm providing investment advisory and related services. With $61.7 billion in assets under management as at December 31, 2015, 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 $133 billion in total assets under management as at December 31, 2015. 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]