Effective July 31, 2017, the payment date on SWPs and Income plan payouts will be changed to ensure that clients receive their payment on or before their requested date. This will ensure their cash flow is not adversely impacted by payment dates that would otherwise fall on a non-business day and is reflective of the industry payout process.
The advance of electric vehicles could have a major impact on oil stocks. Mackenzie Canadian Growth Team factors the shift into its energy exposure.
Richard Wong and Jonathan Norwood of the Mackenzie Cundill Team explain their thinking behind buying and selling several positions in the Cundill funds.
Mackenzie Investments announces distributions for its Active Exchange Traded Funds (MKB, MUB, MFT, MGB, MHYB)
Mackenzie Financial Corporation (Mackenzie Investments) has announced the July 2017 cash distributions for its Active Exchange Traded Funds (ETFs) that trade on the Toronto Stock Exchange (TSX) and Aequitas NEO Exchange. Unitholders of record on July 31, 2017 will receive cash distributions payable on August 8, 2017.
Over the first quarter of 2017, the global market finished strong, continuing the trend that started last fall. Far East markets outperformed the US and European markets; this is the opposite of what was observed in Q4, when Far East markets lagged their global counterparts. European markets also posted strong performance. US markets achieved new all-time highs. The U.S. Federal Reserve raised the federal funds rate again in March 2017, after the hike in December 2016, citing higher home prices, low unemployment rate and improving economic confidence.
During Q1 2017, Mackenzie Global Dividend Fund returned 7.4%. This compares with the MSCI World Total Return Index ($CDN) return of 5.3%.
During the quarter, oil prices pulled back over concerns of higher inventory levels. Oil prices dipped below US$50 briefly during March but ended the quarter marginally over $51. Our holdings in California Resources and Whiting Petroleum both pulled back materially with oil prices coming off. The two companies remain levered to higher energy prices. We believe the firms remain undervalued in an environment of $60 oil prices.