Fund changes 19 June 2014 | Mackenzie Investments

Press Releases

Mackenzie Investments strengthens management of balanced funds and announces other fund changes

Toronto, June 19, 2014 – Mackenzie Investments announced today that, effective on or about August 14, 2014, Alain Bergeron, Senior Vice President and Asset Allocation Team Lead, will assume responsibility for asset allocation in eight Mackenzie balanced funds as follows:

Mr. Bergeron’s new role with these funds will enhance the resources dedicated to them and allow their existing equity and fixed income teams to focus on selecting securities.

“We believe that Alain’s asset allocation talents make a great addition to our balanced funds,” said Tony Elavia, Chief Investment Officer at Mackenzie Investments. “And this will let our equity and fixed income teams better concentrate on what they do best – which is security selection.”

Asset allocation, or the combination of different asset categories within a fund, plays a vital role in helping to reduce risk and enhance performance potential. Mr. Bergeron’s experience in asset allocation will complement the funds’ underlying security selection process and improve the funds’ capabilities to meet investors’ long-term investment goals and expectations.

Formerly Head of Global Tactical Asset Allocation at the Canada Pension Plan Investment Board (CPPIB), Mr. Bergeron applies a disciplined, pension-style approach to asset allocation with an emphasis on consistent risk-adjusted returns and protecting capital.

Mr. Bergeron is also responsible for the oversight of Symmetry Portfolios, Mackenzie Investments’ managed asset program, as well as the diversified fund-of-fund strategies and the concentrated funds of best ideas.

Clarification of balanced fund investment strategies
To assist advisors and investors in making more informed decisions, Mackenzie Investments will be amending the investment strategies of the eight above mentioned balanced funds* to specify each fund’s ability to allocate its assets between equity and fixed income securities. These amendments will be made on or about August 14, 2014.

Changes to investment objectives to enhance flexibility
To meet the challenges of a changing global investment environment, Mackenzie Investments proposes to amend the investment objectives of Mackenzie Ivy Global Balanced Fund and Mackenzie Ivy Canadian Balanced Fund.

Subject to investor approval, the funds will change their objectives to allow for increased flexibility regarding the funds’ asset allocation among equity securities and fixed income securities. Full details will be outlined in a Management Information Circular and Proxy to be mailed in July to investors of record. The proposed amendments will not impact the risk ratings of the funds.

A special meeting of investors to consider and vote on these proposed amendments is scheduled for August 13, 2014, at the Mackenzie Investments office in Toronto. If approved, these amendments will come into effect on or about August 14, 2014.

Sub-advisor change to Mackenzie US Large Cap Growth Fund

Effective on or about September 15, 2014, Mackenzie US Large Cap Growth Fund will be managed by Putnam Investments. Putnam Investments is a leading US investment management firm that brings deep experience and a proven track record.

In conjunction with this sub-advisor change, Mackenzie US Large Cap Growth Fund will be renamed Mackenzie US All Cap Growth Fund to reflect Putnam’s approach to diversifying across all market capitalizations.

Mackenzie Investments was founded in 1967, and is a leading investment management firm providing investment advisory and related services. With $69.3 billion in assets under management as at May 31, 2014, 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 $138 billion in total assets under management as at May 31, 2014

*The investment strategies of Mackenzie Ivy Global Balanced Fund and Mackenzie Ivy Canadian Balanced Fund will be amended pending a favorable vote by investors to change the investment objectives.

For more information contact:

Liana George
Vice President, Corporate Communications
Mackenzie Investments