Mackenzie Ivy Team

The highest ratings given by the independent investment research firm Morningstar

Morningstar rating

Morningstar rating

Morningstar rating

Morningstar rating

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Mackenzie Ivy European Class

Mackenzie Ivy Foreign Equity Fund

Winners of 2015 Fundata FundGrade A+ Awards for consistent and outstanding risk-adjusted performance in their respective categories

We aim to invest in high quality companies at reasonable prices. We focus on those 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. Our lengthy and independent due diligence process is designed to uncover companies with positive and reinforcing corporate cultures – those that will continuously look to reinvest in their competitive advantage to help ensure dominance long into the future. Preservation of capital is the hallmark of Ivy style and we believe that protecting on the downside and participating enough on the upside will lead to above-average compound returns over a full market cycle. By taking a long-term view and focusing on fundamental bottom-up analysis, the Ivy style aims to afford one with the conviction to act counter-cyclically, potentially adding value to the portfolio over time.

Portfolio Managers

Paul Musson, CFA

Senior Vice President, Portfolio Manager, Head of Team

Mackenzie Ivy Team

Investment experience since 1992

Matt Moody, MBA, CFA

Vice President, Portfolio Manager

Mackenzie Ivy Team

Investment experience since 1999

Robert McKee, MSc, MBA, CFA

Vice President, Portfolio Manager

Mackenzie Ivy Team

Investment experience since 2007

Hussein Sunderji, MBA, CFA

Vice President, Portfolio Manager

Mackenzie Ivy Team

Investment experience since 2007

Graham Meagher, CFA

Associate Portfolio Manager

Mackenzie Ivy Team

Investment experience since 1999

James Morrison, MBA, CFA

Associate Portfolio Manager

Mackenzie Ivy Team

Investment experience since 2005

Commissions, trailing commissions, management fees, and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. The indicated rates of return are the historical annual compounded total returns as of December 31, 2016 including changes in unit value and reinvestment of all distributions and does not take into account sales, redemption, distribution, or optional charges or income taxes payable by any security holder that would have reduced returns. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated.

The rate of return is used only to illustrate the effects of the compound growth rate and is not intended to reflect future values of Mackenzie Ivy Global Balanced Fund, Mackenzie Ivy Foreign Equity Fund, Mackenzie Ivy Canadian Balanced Fund and Mackenzie Ivy Canadian Fund or returns on investment in Mackenzie Ivy Global Balanced Fund, Mackenzie Ivy Foreign Equity Fund, Mackenzie Ivy Canadian Balanced Fund and Mackenzie Ivy Canadian Fund.

Morningstar Star Ratings reflect performance of Series F units as of December 31, 2016 and are subject to change monthly. The ratings are an objective, quantitative measure of a fund’s historical risk-adjusted performance relative to other funds in its category. Only funds with at least a three-year track record are considered. The overall star rating for a fund is a weighted combination calculated from a fund’s 3, 5, and 10-year returns, as available, measured against the 91-day Treasury bill and peer group returns. A fund can only be rated if there are a sufficient number of funds in its peer group to allow comparison for at least three years. If a fund scores in the top 10% of its fund category, it gets 5 stars; if it falls in the next 22.5%, it receives 4 stars; a place in the middle 35% earns a fund 3 stars; those in the next 22.5% receive 2 stars; and the lowest 10% receive 1 star. For more details on the calculation of Morningstar Star Ratings, see www.morningstar.ca. Quartile rankings and peers beaten are calculated by Mackenzie Investments based on the fund series-level data Morningstar provides. The CIFSC categories, Star Ratings and number of funds in each category for the standard periods are: Mackenzie Ivy Global Balanced Fund Series F, Global Equity Balanced category: 3 years – 5 stars (711 funds), 5 years – 5 stars (498 funds), 10 years – 5 stars (171 funds). Mackenzie Ivy Foreign Equity Fund Series F, Global Equity category: 3 years – 3 stars (982 funds), 5 years – 4 stars (710 funds), 10 years – 5 stars (271 funds). Mackenzie Ivy Canadian Balanced Fund Series F, Canadian Equity Balanced: 3 years – 5 stars (378 funds), 5 years – 5 stars (257 funds), 10 years – 4 stars (128 funds). Mackenzie Ivy Canadian Fund Series F, Canadian Focused Equity: 3 years – 4 stars (516 funds), 5 years – 4 stars (342 funds), 10 years – 4 stars (180 funds).

The Fundata FundGrade A+ Awards are presented annually to Canadian investment funds that achieve consistently high FundGrade scores through an entire calendar year. In 2015, 213 top-performing Canadian mutual funds, exchange traded funds, and segregated funds from 45 fund companies were awarded a FundGrade A+ Rating. FundGrade A+ is a supplemental calculation to the FundGrade ratings and is performed at the end of each calendar year. Eligible funds must have received a FundGrade rating every month in the previous year. FundGrade A+ uses a “GPA-style” calculation, where monthly FundGrades from “A” to “E” receive scores from 4 to 0, respectively. A fund’s average score for the year determines its GPA. Any fund with a GPA of 3.5 or greater is awarded an A+ rating. Performance for Mackenzie Ivy European Class for the period ended December 31, 2016 is as follows: -2.7% (1 year), 3.1% (3 years), 9.0% (5 years), 4.2% (10 years) and 5.5% (since inception on November 8, 2002). Performance for Mackenzie Ivy Foreign Equity Fund for the period ended December 31, 2016 is as follows: -0.1% (1 year), 7.9% (3 years), 12.1% (5 years), 6.0% (10 years) and 7.9% (since inception on October 16, 1992). For more information on the FundGrade rating system, visit their corporate website.