Watch Richard Wong, Portfolio Manager on the Mackenzie Cundill Team, as he discusses the improved strength of the global financial system and opportunities for investors.
July 21, 2017
On July 18, 2017, the Department of Finance Canada issued its highly anticipated consultation paper, which addressed some of the tax strategies that incorporated business owners and professionals use in their tax planning.
Mackenzie Investments announces distributions for its Active Exchange Traded Funds (MKB, MUB, MFT, MGB, MHYB)
Mackenzie Financial Corporation (Mackenzie Investments) has announced the June 2017 cash distributions for its Active Exchange Traded Funds (ETFs) that trade on the Toronto Stock Exchange (TSX) and Aequitas NEO Exchange.
Capital preservation is key for investors who draw regular income from their investments. Learn how the Mackenzie Ivy Global Balanced Fund/Class are uniquely positioned to protect on the downside.
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.