Mackenzie Growth Team
Philosophy and process
The Mackenzie Growth Team aims to deliver superior performance over a full market cycle by investing in high-quality, innovative businesses that are growing faster than the economy and have sustainable competitive advantages.
The Team believes that true value creation comes from innovations that make customers’ lives better, faster, and cheaper. The objective is to hold companies that have a place within the world as they see it changing in the future. The Team believes their investment edge lies in the ability to look through temporary problems and buy into price weakness because of the work they do to confirm their conviction in the long-term future for their companies.
They believe having a price discipline adds value to the investment process. The valuation process is based on discounted cash flow analysis using the Team’s own models, which means the Team understands the specific assumptions underlying their price targets. This process provides a foundation on which buy and sell decisions are made. The Team’s singular focus is on the US mid cap space. Being a small and focused team provides the nimbleness that allows for efficient decision making.
Phil Taller, MBA, CFA
Investment experience since 1991
Phil Taller, Senior Vice President, Investment Management, is the lead Portfolio Manager on Mackenzie US Mid Cap Growth Class and Head of the Mackenzie Growth Team. Phil’s area of expertise is U.S. mid-cap stocks.
Phil has been managing US Mid Cap Growth Class since the Fund’s inception in 2002. His career in the investment industry began in 1991 as a Research Associate. Starting in 1995, Phil was at a leading Canadian mutual fund company as a Portfolio Manager on the Canadian equities team. His focus was on bottom-up company analysis, and he co-managed $10 billion in Canadian equities.
Phil has a Bachelor’s degree (Mathematics and Computer Science) from the University of Waterloo and an MBA from the Schulich School of Business at York University. He is also a CFA charterholder.
Sonny Aggarwal, MBA, CFA
Investment experience since 2000
Sonny Aggarwal, Vice President, Investment Management, is a Portfolio Manager on the Mackenzie Growth Team for the Mackenzie US Mid Cap Growth Class mandate.
He joined Mackenzie Investments in 2014. Previously, Sonny worked at one of Canada's leading hedge fund firms, covering US equities. Prior to that, he worked as a research analyst at a small boutique investment firm for six years, covering US small- and mid-cap stocks. Sonny's career in the investment industry began in 2000.
Sonny has a Bachelor of Commerce (Honours) degree from McGill University and an MBA from Oxford University. He is also a CFA charterholder.
John Lumbers, CFA
Investment experience since 2012
John Lumbers is an Associate Portfolio Manager on the Mackenzie Growth Team for the Mackenzie US Mid Cap Growth Class mandate. He joined Mackenzie Investments in 2012.
John has a BA Honours degree in Applied Economics from Queen’s University. He is also a CFA charterholder.
Awards and rankings
The highest ratings given by the independent investment research firm Morningstar
- Fund Insights: Finding Diamonds in the Rough PDF 517 kb
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Morningstar Star Ratings reflect performance of Series F as of August 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 US Small-Mid Cap Growth Class F, U.S. Small/Mid Cap Equity Category: 3 years - 5 stars (233 funds), 5 years - 5 stars (198 funds), 10 years - 4 stars (77 funds). Mackenzie US Small-Mid Cap Growth Currency Neutral Class F, U.S. Small/Mid Cap Equity Category: 3 years - 4 stars (233 funds), 5 years - 4 stars (198 funds), 10 years - 3 stars (77 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 U.S. Mid Cap Growth Class Series A was recognized for outstanding fund performance at the 2019 Fundata FundGrade A+ Awards in the U.S. Small/Mid Cap Equity category out of a total of 196 funds. Performance for the fund for the period ended December 31, 2019 is as follows: 20.0% (1 year), 13.4% (3 years), 12.0% (5 years), 13.5% (10 years) and 10.7% (since inception- November, 2002).