A flexible, income-focused fund, a sector neutral Canadian equity fund
and an all-Canadian dividend class have been added to Mackenzie product
TORONTO, Nov. 17 /CNW/ - Mackenzie Financial Corporation ("Mackenzie Investments") introduced three new mutual funds available for purchase today: Mackenzie Sentinel Strategic Income Class, Mackenzie All-Sector Canadian Equity Fund and Mackenzie Maxxum All-Canadian Dividend Class.
Mackenzie Sentinel Strategic Income Class
Mackenzie Sentinel Strategic Income Class offers income and a flexible mandate. Lead manager Dan Bastasic, Vice President, Investments, will actively seek income by investing across a broad range of yield-oriented asset classes, including dividend-paying equities, income trusts, corporate bonds, convertible bonds and government bonds with no asset allocation or geographic constraints. As well, the manager will modify the asset allocation of the Fund according to changing market and economic conditions to take advantage of investment opportunities throughout the business cycle.
"There is a demand for a completely flexible mandate that puts the asset allocation decision in the hands of a proven investment manager," said David Feather, President of Mackenzie Financial Services Inc. "Many investors don't know where to turn to meet their income requirements in this low interest rate environment. Mackenzie Sentinel Strategic Income Class is an option for these investors."
Mackenzie Sentinel Strategic Income Class is designed for non-registered investment accounts. As part of Mackenzie Investment's Capitalcorp structure, Mackenzie Sentinel Strategic Income Class offers investors the ability to switch between the Fund and more than 50 other Capitalcorp funds on a tax-deferred basis. In addition, investors seeking regular cash flow can choose between Series T6 or T8, which provide monthly distributions at a rate of 6 per cent per year or 8 per cent per year, generally in the form of tax-efficient return of capital. Mackenzie Sentinel Registered Strategic Income Fund is available for purchase by investors with registered accounts such as RRSPs and RRIFs.
As lead manager on the highly successful Mackenzie Sentinel Corporate Bond Fund and co-manager of Mackenzie Universal Global Infrastructure Fund, Dan Bastastic is experienced in actively managing both fixed income securities and equities. He also manages Mackenzie Sentinel North American Corporate Bond Class and Mackenzie Sentinel Registered North American Corporate Bond Fund, and is co-manager of Mackenzie Sentinel Diversified Income Fund.
Mackenzie All-Sector Canadian Equity Fund
Mackenzie All-Sector Canadian Equity Fund seeks long-term growth by investing purely(1) in equity securities of Canadian companies, and aims to follow the sector allocations of the S&P/TSX Capped Composite Index to neutralize sector risk. Within each sector, the portfolio manager will seek out superior investment opportunities by investing in those stocks that represent the highest convictions of portfolio advisors and sub-advisors of various Mackenzie equity funds.
"Mackenzie is well-known for the quality of its managers and their stock picking ability," said Mr. Feather. "With this fund, investors will participate in general directional market movements and receive the benefit of active management, as the portfolio manager will select the stocks they feel have the potential to outperform in each sector."
Mackenzie Maxxum All-Canadian Dividend Class
Mackenzie Maxxum All-Canadian Dividend Class is a purely(1) Canadian equity fund that seeks to achieve long-term investment returns through capital growth and dividend yield by investing primarily in common and preferred shares of Canadian companies.
With the launch of Mackenzie All-Sector Canadian Equity Fund and Mackenzie Maxxum All-Canadian Dividend Class, Mackenzie now offers six all-Canadian equity funds, including Mackenzie Focus All-Canadian Class, Mackenzie Ivy All-Canadian Class, Mackenzie Maxxum All-Canadian Equity Class, and Mackenzie Universal All-Canadian Growth Class. The funds provide investment solutions for investors who want to maintain a specific Canadian asset allocation for their portfolios.
Full details about the new funds, including simplified prospectuses, can be found at www.mackenziefinancial.com.
Mackenzie Investments was founded in 1967, and is a leading investment management firm providing investment advisory and related services. With $61.4 billion in assets under management as of October 31, 2009, 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 $116 billion in total assets under management as of October 31, 2009.
(1) The Funds' investment strategies will, in rare circumstances, allow
the Funds to hold foreign securities.
SOURCE Mackenzie Financial Corporation
For further information: For further information: Trish Tervit, Environics Communications Inc., (416) 969-2809, firstname.lastname@example.org