Mackenzie Multi-Asset Strategies Team

A true multi-asset, total portfolio management approach incorporating some of the best practices from leading institutional pension funds.

Nelson Arruda

Vice President, Portfolio Manager

Funds under management

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.

Portfolio Managers

Nelson Arruda, CFA

Vice President, Portfolio Manager, Team Co-Lead 

Mackenzie Multi-Asset Strategies Team

Investment experience since 2009

Nelson Arruda, Vice President, Investment Management, is a Portfolio Manager on 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.

Andrea Hallett, CFA

Vice President, Portfolio Manager

Mackenzie Multi-Asset Strategies Team

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

Vice President, Portfolio Manager

Mackenzie Multi-Asset Strategies Team

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.

Michael Kapler, MMF, CFA

Portfolio Manager

Mackenzie Multi-Asset Strategies Team

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

Mackenzie Monthly Income Conservative Portfolio (Series A)
Winners of the 2019 Fundata FundGrade A+ Awards® for consistent and outstanding risk-adjusted performance in their respective categories    

Mackenzie Canadian Growth Balanced Fund (Series A)
Winner of the 2019 Fundata FundGrade A+ Awards® for consistent and outstanding risk-adjusted performance in their respective categories 

Insights

none

Watch Alex Bellefleur's Q4 Market Outlook

A slowing global economy, shifting monetary policies and persistent geopolitical issues. Chief Economist & Strategist Alex Bellefleur shares his fourth-quarter market outlook.

2 minute read

none

Economic Impact of Canada’s Federal Election

With a Canadian federal election producing a minority government, several investors have asked us to comment on the possible implications for the Canadian economy and markets.

5 minute read

none

Thoughts on the Latest Trade War Flare-up

After an early summer reprieve in the trade war between the United States and China, President Donald Trump imposed another round of tariffs on Chinese goods, targeting $300 billion in imports at a 10% rate.

 

5 minute read

We need to talk about Germany

The last few weeks have seen a considerable increase in talk about a potential U.S. recession, largely as a result of the inversion in the yield curve. As we have written in previous notes, we are generally not ready to forecast a U.S. recession, believing instead that headwinds in the manufacturing sector will be matched by improvements in personal consumption and housing as well as Fed easing.

5 minute read

none

Correlation vs. Beta: What is The Difference and Why Does It Matter?

How much will a new investment idea diversify a portfolio? Will it really add something new? Or will it just provide more of the same? To answer that question, many people start with the correlation coefficient.

5 minute read

Asset Allocation and Factor Investing: An Integrated Approach

Factor investing is a relatively new concept that continues to gain acceptance among market participants. Despite that, there remains much debate over how factors can best be incorporated into the investment process. Some investors even view the factor approach to portfolio construction as a preferred alternative to traditional methods of asset allocation.

5 minute read

Q1 2019 Commentary – Mackenzie Multi-Asset Strategies Team

Equity markets rebounded significantly in Q1 after a tumultuous end to 2018. The MSCI ACWI Index returned 12.4% in local currency terms, the biggest quarterly gain since the rebound from the financial crisis in 2009.

5 minute read

Related Documents

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 use of the term or phrase "pension style investing" ("phrase") should not be misconstrued as a claim of compliance with the Pension Benefits Standards Act of Canada. The phrase used in respect of Mackenzie Investments' Symmetry Portfolios refers to its selective use of pools. Pools are simply separate accounts, or mandates, in which portfolio managers are provided with guidelines that complement other mandates within a larger long-term portfolio. In the case of Symmetry Portfolios, Mackenzie Multi-Asset Strategies Team ask portfolio managers to invest within specific guidelines exclusively for Symmetry Portfolios. Examples of Symmetry Portfolio guidelines may be: no cash held in a portfolio; Canadian equity securities only; utilize a consistent value bias and a threshold on market cap.

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 Monthly Income Conservative Portfolio Series A was recognized for outstanding fund performance at the 2019 Fundata FundGrade A+ Awards in the Global Fixed Income Balanced category out of a total of 389 funds.  Performance for the fund for the period ended December 31, 2019 is as follows: 7.9% (1 year), 3.6% (3 years), 4.1% (5 years) and 4.1% (since inception- December, 2014).

  • Mackenzie Canadian Growth Balanced Fund Series A was recognized for outstanding fund performance at the 2019 Fundata FundGrade A+ Awards in the Canadian Equity Balanced category out of a total of 308 funds.  Performance for the fund for the period ended December 31, 2019 is as follows: 16.5% (1 year), 7.8% (3 years), 7.9% (5 years), 7.3% (10 years) and 6.8% (since inception- November, 1996).

For more information, see http://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.