Mackenzie Multi-Asset Strategies Team
A true multi-asset, total portfolio management approach incorporating some of the best practices from leading institutional pension funds.
Funds under management
- Mackenzie Alternative Enhanced Yield Fund
- Mackenzie Balanced ETF Portfolio
- Mackenzie Canadian Growth Balanced Fund
- Mackenzie Conservative ETF Portfolio
- Mackenzie Conservative Income ETF Portfolio
- Mackenzie Cundill Canadian Balanced Fund
- Mackenzie Diversified Alternatives Fund
- Mackenzie Global Growth Balanced Fund
- Mackenzie Global Macro Fund
- Mackenzie Growth ETF Portfolio
- Mackenzie Ivy Canadian Balanced Fund
- Mackenzie Ivy Global Balanced Fund
- Mackenzie Moderate Growth ETF Portfolio
- Mackenzie Monthly Income Balanced Portfolio
- Mackenzie Monthly Income Conservative Portfolio
- Mackenzie Multi-Strategy Absolute Return Fund
- Mackenzie Private Canadian Focused Equity Pool
- Mackenzie Private Equity Replication Fund
- Mackenzie Private Global Conservative Income Balanced Pool
- Mackenzie Private Global Equity Pool
- Mackenzie Private Global Income Balanced Pool
- Mackenzie Private Income Balanced Pool
- Symmetry Balanced Portfolio
- Symmetry Conservative Income Portfolio
- Symmetry Conservative Portfolio
- Symmetry Fixed Income Portfolio
- Symmetry Growth Portfolio
- Symmetry Moderate Growth Portfolio
Philosophy and process
The Mackenzie Multi-Asset Strategies Team believes in the importance of delivering attractive returns without taking undue risk. Their expertise, technology and approach are similar to those found in leading, world-class pension plans. This means that risk management is present at every step of a highly disciplined investment process that fights for every basis point. To help attain repeatable results, the Team utilizes a systematic decision-making process, based on years of accumulated research and driven by sound investment insights and strong economic foundations. This assists with the identification of attractive investment opportunities and better diversification of exposures in terms of factors, assets, geographies and strategies.
Nelson Arruda, MFin., MSc., CFA
Investment experience since 2009
Nelson Arruda, Senior Vice-President, is a Portfolio Manager and Co-Lead of the Mackenzie Multi-Asset Strategies Team.
Nelson has experience in investment research and portfolio management of multi-asset strategies, including equities, foreign exchange, sovereign debt and commodities. Prior to joining Mackenzie in 2017, Nelson spent seven years at the Canada Pension Plan Investment Board where he performed various roles, including head portfolio manager of the active commodities portfolio, covering energy, agriculture and metals.
Nelson has Bachelor of Science and Master of Science degrees in computer science from the University of Toronto and also graduated from the Rotman School of Business with a Master of Finance. He is a CFA charterholder.
Todd Mattina, Ph.D.
Investment experience since 2001
Todd Mattina, Senior Vice-President, is Co-Lead of the Mackenzie Multi-Asset Strategies Team and Chief Economist at Mackenzie Investments.
Todd supports multi-asset and currency solutions by building proprietary investment models and assessing the investment implications of expected macroeconomic conditions. After serving as Mackenzie’s Chief Strategist and Economist from 2014 to 2018, Todd joined the Investment Management Corporation of Ontario, where he served as VP, Portfolio Construction, Chief Strategist and Chief Economist, leading the teams responsible for asset allocation and economic analysis. Todd also worked at the International Monetary Fund, where he focused on macro-fiscal policy, and at the Canada Pension Plan Investment Board, where he was a Portfolio Manager (emerging market currencies). Todd currently serves as Vice-Chair of the Investment Committee and Pension Committee of Queen’s University.
Todd holds a PhD in Economics (International Macroeconomics & Finance) from Queen’s University and an MA in Economics from the University of British Columbia.
Andrea Hallett, CFA
Investment experience since 1998
Andrea Hallett, Vice President, Investment Management, is a Portfolio Manager on the Mackenzie Multi-Asset Strategies Team and is co-manager for Mackenzie Investments' multi-managed funds and strategic asset allocation programs.
Andrea’s career in the investment industry began in 1998. She has been with Mackenzie Investments since 2002. Prior to joining Mackenzie Investments, Andrea held several roles with increasing responsibilities within the investment department at a large Canadian mutual fund company. At that company, her responsibilities included overseeing external portfolio managers, as well as managing a strategic asset allocation program.
Andrea has an honours degree in Commerce from McMaster University. She is also a CFA charterholder.
Paul Taylor, MBA, CFA
Investment experience since 1985
Paul Taylor, Vice President, Investment Management, joined the Mackenzie Multi-Asset Strategies Team in October 2019 and is a Portfolio Manager and a member of Mackenzie’s Global Investment Committee.
Paul has significant investment experience in the areas of multi-asset allocation, Canadian equity management, and manager evaluation, selection and oversight. Prior to joining Mackenzie, he worked for 14 years at a major Canadian bank as Chief Investment Officer, where his responsibilities included making tactical asset allocation decisions across institutional, high net worth and retail lines of businesses and leading large teams of investment professionals, which included equity, bond and asset allocation managers.
Paul earned an MBA at the Smith School of Business at Queen’s University and holds a BA (Economics) from the University of Western Ontario. He is also a CFA charterholder.
Matthew Cardillo, CFA
Investment experience since 2000
Matthew Cardillo, Vice President, Portfolio Manager, Investment Management is part of the Investment Team at Mackenzie Investments. Matthew manages investment products for the Mackenzie Multi-Asset Strategies Team, conducts investment research, and oversees equity risk management.
Matthew joined Mackenzie Investments in 2012. From 2006 to 2012, Matthew was a Senior Portfolio Manager at State Street Global Advisors (SSgA), where he managed 2.5 billion USD in long-only and short-extension (130/30) strategies in the U.S., Canadian, and global markets. In addition to managing institutional client portfolios, Matthew also developed new investment products for SSgA. Prior to SSgA, from 2000 to 2005, Matthew worked as an Associate Economist for the Federal Reserve System of the United States, analyzing issues affecting the U.S. macroeconomy and conducting monetary-policy research.
Matthew holds a M.Sc. in Engineering from Johns Hopkins University, as well as a dual bachelor’s, in economics and mathematics, from the University of Colorado at Boulder. He is also a CFA charterholder.
Lawrence (Larry) Llaguno, MBA, MSc, CFA, CAIA
Investment experience since 2008
Larry Llaguno, Assistant Vice President, is a Portfolio Manager on the Mackenzie Multi-Asset Strategies Team. Larry manages investment products for the Multi-Asset Strategies team, conducts investment research, and oversees equity risk management.
Larry joined Mackenzie Investments in 2017. From 2011 to 2017, he was an Associate Portfolio Manager/Senior Associate of Global Tactical Asset Allocation team in CPP Investment Board. From 2010 to 2011, Larry was an Investment Analyst in Strategy and Economics in Ontario Teachers’ Pension Plan. Prior to that, Larry spent two years as an Associate in the Risk Management Development Program at one of the major Canadian banks.
Larry holds BSc (Hons) in Economic, Mathematics & Computer Science and MSc in Statistics from the University of Toronto; MA in Economics from Dalhousie University; MBA and Graduate Diploma in Financial Engineering from the Schulich School of Business at York University. He is also a CFA and CAIA charterholder.
Michael Kapler, MMF, CFA
Investment experience since 1998
Michael Kapler is a Portfolio Manager on the Mackenzie Multi-Asset Strategies Team. He manages factor-based equity pools for the Multi-Asset Strategies Team.
Michael joined Mackenzie in 2016. Previously, he spent 10 years involved in quant equity portfolio construction at various hedge funds and financial institutions. His investment experience includes equity factor investing, alternative strategies, asset allocation and risk management.
Michael has a Bachelor of Science (Economics and Computer Science) degree and a Master's of Mathematical Finance from the University of Toronto. He is also a CFA charterholder.
Awards and rankings
The highest ratings given by the independent investment research firm Morningstar
- Long-term capital markets expectations - Mackenzie Multi-Asset Strategies Team PDF(Locked) 9.83 MB
- Investor Brochure - The Alternative Way to Stabilize Core Portfolios PDF 1.29 MB
- Portfolio Manager Profiles - Mackenzie Multi-Asset Strategies Team PDF 427 KB
- Symmetry Portfolios – 2020 year in review PDF(Locked) 231 KB
- Investor Brochure - Symmetry Portfolios PDF 3.0 KB
Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated.
The content of this web page (including facts, views, opinions, recommendations, descriptions of or references to, products or securities) is not to be used or construed as investment advice, as an offer to sell or the solicitation of an offer to buy, or an endorsement, recommendation or sponsorship of any entity or security cited. Although we endeavour to ensure its accuracy and completeness, we assume no responsibility for any reliance upon it.
Morningstar Star Ratings reflect performance of Series F as of May 31, 2021 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.
Mackenzie Balanced ETF Portfolio F, Global Neutral Balanced Category: 3 years - 4 stars (1367 funds), 5 years - n/a stars (n/a funds), 10 years - n/a stars (n/a funds). Mackenzie Conservative Income ETF Portfolio F, Global Fixed Income Balanced Category: 3 years - 4 stars (665 funds), 5 years - n/a stars (n/a funds), 10 years - n/a stars (n/a funds). Mackenzie Conservative ETF Portfolio F, Global Fixed Income Balanced Category: 3 years - 4 stars (665 funds), 5 years - n/a stars (n/a funds), 10 years - n/a stars (n/a funds). Mackenzie Moderate Growth ETF Portfolio F, Global Neutral Balanced Category: 3 years - 4 stars (1359 funds), 5 years - n/a stars (n/a funds), 10 years - n/a stars (n/a funds). Mackenzie Monthly Income Conservative Portfolio F, Global Fixed Income Balanced Category: 3 years - 3 stars (665 funds), 5 years - 4 stars (503 funds), 10 years - n/a stars (n/a funds). Symmetry Conservative Portfolio F, Canadian Fixed Income Balanced Category: 3 years - 4 stars (449 funds), 5 years - 5 stars (383 funds), 10 years - 5 stars (188 funds). Symmetry Growth Portfolio F, Global Equity Balanced Category: 3 years - 4 stars (1053 funds), 5 years - 4 stars (889 funds), 10 years - 4 stars (354 funds). Symmetry Moderate Growth Portfolio F, Global Neutral Balanced Category: 3 years - 4 stars (1359 funds), 5 years - 4 stars (1073 funds), 10 years - 4 stars (414 funds). Symmetry Conservative Portfolio Class F, Canadian Fixed Income Balanced Category: 3 years - 4 stars (449 funds), 5 years - 4 stars (383 funds), 10 years - 5 stars (188 funds).
FundGrade A+® is used with permission from Fundata Canada Inc., all rights reserved. The annual FundGrade A+® Awards are presented by Fundata Canada Inc. to recognize the “best of the best” among Canadian investment funds. The FundGrade A+® calculation is supplemental to the monthly FundGrade ratings and is calculated at the end of each calendar year. The FundGrade rating system evaluates funds based on their risk-adjusted performance, measured by Sharpe Ratio, Sortino Ratio, and Information Ratio. The score for each ratio is calculated individually, covering all time periods from 2 to 10 years. The scores are then weighted equally in calculating a monthly FundGrade. The top 10% of funds earn an A Grade; the next 20% of funds earn a B Grade; the next 40% of funds earn a C Grade; the next 20% of funds receive a D Grade; and the lowest 10% of funds receive an E Grade. To be eligible, a fund must have received a FundGrade rating every month in the previous year. The FundGrade A+® uses a GPA-style calculation, where each monthly FundGrade from “A” to “E” receives a score 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 a FundGrade A+® Award. For more information, see www.FundGradeAwards.com. Although Fundata makes every effort to ensure the accuracy and reliability of the data contained herein, the accuracy is not guaranteed by Fundata.
Mackenzie Canadian Growth Balanced Fund Series A was recognized for outstanding fund performance at the 2020 Fundata FundGrade A+ Awards in the Canadian Equity Balanced category out of a total of 284 funds. Performance for the fund for the period ended December 31, 2020 is as follows: 9.9% (1 year), 7.8% (3 years), 8.0% (5 years), 8.2 % (10 years) and 7.0% (since inception- November, 1996).