Mackenzie Resource Team

Disciplined investing in resource companies that follow prudent capital allocation.

Benoit Gervais, MSc, CFA

Senior Vice President, Portfolio Manager, Head of Team

Philosophy and process

The Mackenzie Resource team aims to provide above-average capital appreciation from equity investments in natural resource companies. We believe that a company’s ability to generate Sustainable Free Cash Flow over a full pricing cycle combined with management’s acumen in allocating capital wisely are key drivers of long-term value creation within natural resource sectors. We apply a Sustainable Free Cash Flow focused approach to investing with a disciplined quantitative risk management overlay. Our Portfolio Managers bring comprehensive insight from their time in the resource industry, as well as over 15 years in investment management. 

Portfolio Managers

Benoit Gervais, MSc, CFA

Senior Vice President, Portfolio Manager, Head of Team

Mackenzie Resource Team

Investment experience since 2001

Benoit Gervais, Senior Vice President, Investment Management, is Portfolio Manager and Head of the Mackenzie Resource Team. Benoit has expertise in the diversified resource sector.

Benoit’s career in the investment industry began in 2001, when he joined Mackenzie Investments as an Investment Analyst. Prior to joining Mackenzie Investments, Benoit gained valuable experience working for various organizations in the mining sector.

Benoit has a BEng from the École Polytechnique and McGill University, as well as an MSc (Mineral Economics) from the Colorado School of Mines. He is also a CFA charterholder.

Onno Rutten, MSc, MBA

Vice President

Mackenzie Resource Team

Investment experience since 2003

Onno Rutten, Vice President, Investment Management, is a Portfolio Manager on the Mackenzie Resource Team.

Onno’s career in the investment industry began in 2003. He joined Mackenzie Investments in 2011. Prior to joining Mackenzie Investments, Onno was a precious and base metals Equity Research Analyst and Executive Director at a large global financial services firm in Toronto. During those years, Onno developed a reputation for his detailed modeling and market judgment in commodities and equities. From 1996 to 2001, he was a Senior Process Engineer in hydrometallurgy and minerals processing for a leading global engineering consulting firm, and designed and audited mines in Africa, Australia and Canada.

Onno holds an MSc (Mining and Petroleum Engineering) from Delft University (the Netherlands), as well as an MBA from INSEAD (France).

Scott Prieur, MBA, CFA

Associate Portfolio Manager

Mackenzie Resource Team

Investment experience since 2003

Scott Prieur, Associate Portfolio Manager, is responsible for research and investments in oil, gas and related companies.  

Scott’s career in the investment industry began in 2003. He joined Mackenzie in 2013. Prior to joining Mackenzie, Scott worked for wealth management firms in the United States and a global investment bank in Toronto.

Scott holds an Honours Bachelor of Arts in Geological Studies and Economics from Queens University, an MBA from Northwestern University, and is a CFA charterholder.

Insights

insights

White paper: From Oil to Lithium

Mackenzie Resource Team sees investor opportunities in the shift from inefficient, polluting resources to sustainables. Climate change is forcing leading economies to make big decisions that could have a historic impact on resource sectors.

5 minute read

insights

Sustainable Free Cash Flow Analysis: A Better Measure for Resource Equities

In today’s challenging environment for global commodity prices, conventional valuation measures may not be the most effective in selecting resource stocks. In this paper, we examine the application of sustainable Free Cash Flow analysis for companies with high capital intensity.

5 minute read

insights

Q2 2019 Commentary – Mackenzie Resource Team

Global leading indicators of economic activity have, on balance, stabilized at lower levels. Encouragingly, global central banks are starting to implement monetary easing and rate cuts are expected over the next several months.

5 minute read

Q1 2019 Commentary – Mackenzie Resource Team

Accelerating fiscal stimulus and a hasty retreat from monetary tightening intentions by Central Banks were the immediate response to a moderation in global economic activity during Q4/2018

5 minute read

insights

The Sustainable Movement: Resource opportunities in the shift from Oil to Lithium

Mackenzie Resource Team says the shift to renewable energy should generate opportunities for resource investors.

5 minute read

Mackenzie Minute: March 9, 2018

Portfolio Manager Onno Rutten says the Mackenzie Resource Team is watching for indicators of more global economic growth while gauging market confidence in the pricing of resource equities.

5 minute read

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.