Inception: November 2002(1)
Benchmark: MSCI Europe Total Return Index
Lead Portfolio Manager: Matt Moody, MBA, CFA
Investment Adviser: Mackenzie Financial Corporation
- Focused on businesses that, as a result of their distinct competitive advantages, are able to grow their future earnings with little or no dependence on financial leverage or external factors.
- Belief that downside protection while participating enough on the upside will lead to above-average compound returns over a full market cycle.
- A long-term view and focus on fundamental bottom-up analysis, drives the conviction to act counter-cyclically, potentially adding value to the portfolio over time.
The Mackenzie Ivy team aims to invest in high quality companies at reasonable prices. We believe that investing in high quality companies that foster strong corporate culture will drive sustainable earnings power and competitive advantages, and as a result deliver consistent performance and superior downside protection over the long-term.
- Labor intensive, bottom-up investment approach focused on identifying high-quality European businesses.
- Intensive fundamental analysis of the company’s competitive position, management strengths, expected profitability and financial position.
- Once high-quality companies are identified, proprietary valuation models determine appropriate entry prices for positions.
- Portfolio will often not resemble the composition of its benchmark and due to its strict high-quality criteria will have an emphasis on developed markets.
- Target 15-25 securities from European equity markets typically with market capitalizations >US$1 billion.
1 Mackenzie Investments (the “Firm”) has been managing European Concentrated Quality Growth assets since November 2002. The Firm claims compliance with GIPS® starting January 1, 2008 and has been independently verified for the period of January 1, 2008 to December 31, 2018.
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The Mackenzie European Concentrated Quality Growth Composite contains fully discretionary, European Concentrated Quality Growth accounts. New accounts are included in the Composite beginning with the first full month under management after they have been fully invested.
GIPS Compliance Statement
Mackenzie Investments claims compliance with the Global Investment Performance Standards (GIPS®).
The European Concentrated Quality Growth Composite seeks long-term growth of capital by investing in equity securities of European companies. Portfolios within the composite will invest in established European markets and, to a lesser extent, in emerging European markets. The strategy follows a blended growth and value investment style and seeks companies having prospects for long-term growth with lower volatility. Generally, once an investment is made, it is held for the long-term. Currency exposure is left unhedged. Prior to January 1, 2021, the composite was known as the European Large Cap Quality Growth composite. The composite was created on October 31, 2017.
The benchmark is the MSCI Europe Total Return Index, net of withholding taxes. The MSCI Europe Index is a free float adjusted, market capitalization weighted index that is designed to measure the equity market performance of the developed markets in Europe. It consists of 15 developed market country indices.
List of Composites
A complete list of composite descriptions is available to prospective clients upon request. Please contact Dean Silver at email@example.com.