Mackenzie Ivy Team

Patience. Discipline. Independent thought. Intellectual honesty. Intellectual curiosity.
That's our edge.

Paul Musson

Senior Vice President, Portfolio Manager, Head of Team

Philosophy and process

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. The hallmark of Ivy style is  to protect on the downside and participate enough on the upside which we believe 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

Paul Musson, Senior Vice President, Investment Management, is Head of the Mackenzie Ivy Team.

Paul’s career in the investment industry began in 1992. He has been with Mackenzie Investments since 2000. Prior to joining Mackenzie Investments, Paul worked within the corporate and investment banking arm of a large Canadian bank for four years in the institutional sales area, with a focus on international equities.

Paul has a BComm (Finance) from Concordia University. He is also a CFA charterholder.

Matt Moody, MBA, CFA

Vice President, Portfolio Manager

Mackenzie Ivy Team

Investment experience since 1999

Matt Moody, Vice President, Investment Management, is a Portfolio Manager on the Mackenzie Ivy Team. Matt is primarily responsible for researching and selecting European companies.

Matt’s career in the investment industry began in 1999. He has been with Mackenzie Investments since 2005. Prior to joining Mackenzie Investments, Matt spent four years at a competitor firm in various investment research and analyst roles.

Matt has a BBA from Acadia University and an International MBA from the Schulich School of Business at York University. He is also a CFA charterholder.

Robert McKee, MSc, MBA, CFA

Vice President, Portfolio Manager

Mackenzie Ivy Team

Investment experience since 2007

Robert McKee, Vice President, Investment Management, is a Portfolio Manager on the Mackenzie Ivy Team. His principal research focus is on U.S. companies.

Robert’s career in the investment industry began in 2007. He joined Mackenzie Investments in 2011. Before joining Mackenzie Investments, Robert worked as an Associate Analyst at a Canadian bank and, prior to that, he was with an investment banking firm. At both firms, he covered companies in the merchandising and consumer products area. He also worked for three years at a U.K. underwriting syndicate, where he was a member of the portfolio management committee.

Robert has a BA from the University of Western Ontario, an MSc (International Political Economy) from the London School of Economics, as well as an MBA (Finance) from the Rotman School at the University of Toronto. He is also a CFA charterholder.

Hussein Sunderji, MBA, CFA

Vice President, Portfolio Manager

Mackenzie Ivy Team

Investment experience since 2007

Hussein Sunderji, Vice President, Investment Management, is a Portfolio Manager on the Mackenzie Ivy Team. He is primarily responsible for researching and selecting Far East and Asian companies.

Hussein’s career in the investment industry began in 2007. He joined Mackenzie in 2013. Prior to joining Mackenzie, Hussein spent two years as an Investment Analyst at a North American investment management firm, where he conducted fundamental equity research to support the firm’s high-net-worth and retail investment mandates. Hussein also worked for four years as an Equity Research Associate at two Canadian bank-owned investment dealers, covering the retail, consumer products and technology sectors.

Hussein has a BSc (Hons., Computer Science) and an MBA from the University of Toronto. He is also a CFA charterholder.

Graham Meagher, CFA

Vice President, Portfolio Manager

Mackenzie Ivy Team

Investment experience since 1999

Graham Meagher, Vice President, Investment Management, is a Portfolio Manager on the Mackenzie Ivy Team. Graham is primarily responsible for researching and selecting Canadian companies.

Graham’s career in the investment industry began in 1999. He has been with Mackenzie Investments since 2014. Prior to joining Mackenzie Investments, Graham was a vice president and equity research analyst at a leading Canadian investment bank.

Graham has a Bachelor of Commerce from the University of Guelph and is a CFA charter holder.

James Morrison, MBA, CFA

Vice President, Portfolio Manager

Mackenzie Ivy Team

Investment experience since 2005

James Morrison, Vice President, Investment Management, is a Portfolio Manager on the Mackenzie Ivy Team. His primary responsibility is covering Canadian equities.

James has been with Mackenzie Investments since 2014. His previous experience includes working as an Investment Banking Associate and Equity Research Analyst at a leading independent investment dealer focused on institutional and corporate clients.

James has an MBA in Finance and Economics from Dalhousie University, and a BBA in Finance and Economics from Bishop’s University. He is a CFA charterholder.

Adam Gofton, CFA

Associate Portfolio Manager

Mackenzie Ivy Team

Investment experience since 2007

Adam Gofton is an Associate Portfolio Manager on the Mackenzie Ivy Team. Adam is primarily responsible for covering U.S. equities.

Adam’s career in the investment industry began in 2007. He has been with Mackenzie Investments since 2013. Prior to joining Mackenzie Investments, Adam spent three years at a global investment bank as a research associate analyst.

Adam has a BComm from Queen’s University. He is also a CFA charterholder. 

Jason Miller, MBA, CFA

Associate Portfolio Manager

Mackenzie Ivy Team

Investment experience since 2008

Jason Miller is an Associate Portfolio Manager on the Mackenzie Ivy Team. His primary responsibility is covering European equities.

Jason’s career in the investment industry began in 2008. Prior to joining Mackenzie Investments in 2016, he spent five years as an investment analyst at one of Canada’s leading investment management companies and two years as an investment analyst at an independent equity research company. 

Jason has an MBA in Finance from the Rotman School of Management at the University of Toronto and a Bachelor of Science degree in Engineering from the University of Calgary. He is also a CFA charterholder.

Awards and rankings

The highest ratings given by the independent investment research firm Morningstar

Insights

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Team Profile - Mackenzie Ivy Team

Since inception in 1992, the Mackenzie Ivy Team has aimed to invest in high quality companies with competitive advantages, trading at reasonable prices.

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Investor Insights: Why Balanced? For Returns and Managing Risk

Balanced funds can anchor a portfolio by diversifying across equities, bonds and cash for consistent performance and risk management. Learn how balance can strengthen your portfolio’s core.

insights

The Ivy difference to global investing

Lead Portfolio Managers from the Mackenzie Ivy Team talk about the hallmark of the Ivy style and their long-term approach to investing in global markets.

5 minute read

Resources

Quarterly Reports

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 including changes in unit value and reinvestment of all distributions and do 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 May 31, 2020 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 morningstar.ca.

The CIFSC categories, Star Ratings and number of funds in each category for the standard periods are: Mackenzie Ivy Global Balanced Fund F, Global Equity Balanced Category: 3 years - 4 stars (1025 funds), 5 years - 4 stars (679 funds), 10 years - 5 stars (300 funds). Mackenzie Ivy Global Balanced Class F, Global Equity Balanced Category: 3 years - 4 stars (1025 funds), 5 years - n/a stars (n/a funds), 10 years - n/a stars n/a funds). Mackenzie Ivy Foreign Equity Fund F, Global Equity Category: 3 years - 3 stars (1555 funds), 5 years - 3 stars (1016 funds), 10 years - 4 stars (505 funds). Mackenzie Ivy Foreign Equity Class F, Global Equity Category: 3 years - 3 stars (1555 funds), 5 years - 3 stars (1016 funds), 10 years - 4 stars (505 funds). Mackenzie Ivy European Class F, European Equity Category: 3 years - 4 stars (172 funds), 5 years - 4 stars (120 funds), 10 years - 4 stars (62 funds). Mackenzie Ivy Canadian Fund F, Canadian Focused Equity Category: 3 years - 3 stars (616 funds), 5 years - 3 stars (435 funds), 10 years - 4 stars (208 funds). Mackenzie Ivy Canadian Balanced Fund F, Canadian Equity Balanced Category: 3 years - 3 stars (394 funds), 5 years - 3 stars (310 funds), 10 years - 4 stars (165 funds).