Mackenzie Investments announces a unique equity fund offering exposure to China’s entire capital market
TORONTO – October 10, 2017 – A recent survey of investors sponsored by Mackenzie Financial Corporation (Mackenzie Investments) and conducted by Environics Research, demonstrated that Canadians are interested in investing in China: 77% of Canadian investors say they will either maintain or increase their investments in China in the next two to three years. To give Canadian investors the opportunity to invest in China, Mackenzie Investments today announced the launch of Mackenzie All China Equity Fund, which will be sub-advised by China Asset Management Co., Ltd. (China AMC). Mackenzie Investments recently acquired a 13.9% interest in China AMC. Together with Power Corporation of Canada (Power), the indirect parent company of IGM Financial (the parent company of Mackenzie Investments), Mackenzie Investments and Power hold a 27.8% interest in China AMC.
“As the second largest economy in the world and consistently with one of the highest growth rates, China offers investors scale, scope and diversification opportunities for portfolios. Disposable income is on the rise and the middle class is growing. It is also the world’s largest population at over 1.3 billion people. A rapidly rising middle class with an enormous population creates a unique opportunity for investment and growth potential,” said Michael Schnitman, Senior Vice President Product for Mackenzie Investments.
The partnership with China AMC allows Mackenzie Investments to collaborate with a leading asset manager with the experience and infrastructure to offer compelling opportunities. China AMC’s investment team has the expertise to offer a unique product that captures the entire spectrum of the Chinese capital markets by allocating the majority of the Fund’s assets to China A-shares, H-shares and Chinese American Depositary Receipts (ADRs). China A-shares trade on the Shanghai and Shenzhen stock exchanges while H-shares are those of companies incorporated in the Chinese mainland and listed on the Hong Kong Stock Exchange.
“The Chinese market is large and complex, requiring local expertise to navigate effectively. Mackenzie All China Equity Fund offers Canadian investors access to that local knowledge through China AMC,” said Mr. Schnitman. “Expertise, insight and investment team infrastructure are essential for finding opportunities in a market such as China.”
This fund will be available for purchase on October 16, 2017.
Data is based on:
- Environics: A survey of 1,247 Canadians 18-75 years old, who have an investment portfolio or plans to begin investing in the near future was completed online between June 27 and July 11, 2017. A probability sample of the same size would yield a MOE of +/- 2.8%, 19 times out of 20.
About China Asset Management Co., Ltd. (China AMC)
Founded in 1998 as one of the first fund management companies in China, China Asset Management Co., Ltd. (China AMC) is one of the largest asset managers in China’s asset management industry with total AUM of approximately RMB¥1.2 trillion (CAD$232 billion) at December 31, 2016. The company currently serves over 350 segregated accounts and 40 million retail investors. China AMC boasts one of the industry’s strongest investment teams with over 200 dedicated investment professionals. See Chinaamc.com for more information.
About Mackenzie Investments
Mackenzie Investments was founded in 1967, and is a leading investment management firm providing investment advisory and related services. With $69.24 billion in assets under management as of September 30, 2017, 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 $150 billion in total assets under management as of September 30, 2017.