Acquisition will enhance Mackenzie’s in-house expertise in growing Sustainable, Responsible and Impact (SRI) investing space
Toronto, ON December 1, 2020 – Mackenzie Financial Corporation ("Mackenzie Investments") today announced that it has entered into an agreement to acquire Greenchip Financial Corp. (“Greenchip”), a Canadian firm focused exclusively on the environmental economy since 2007.
“We’re delighted to welcome Greenchip as our newest investment boutique focused on environmental thematic investing,” said Barry McInerney, President & CEO, Mackenzie Investments. “Canadians have historically had limited options available for investing in the environmental sectors. We believe that Greenchip’s investment strategy and expertise in energy transition and on climate change will help us meet the growing demand of both retail and institutional investors.”
Mr. McInerney noted that Mackenzie has been a leader in bringing impact investing to Canadians, with an evolving suite of funds focused on environmental leadership, gender diversity and sustainability. “The acquisition of Greenchip is a natural evolution reflecting the success of Greenchip’s sub-advisory relationship to the Mackenzie Global Environmental Equity Fund. The Fund has been growing very rapidly, and we expect this to continue as our internal research suggests that 80 per cent of financial advisors prioritize environmental or climate related factors in their selection of SRI investing products.”
Over the past 13 years, Greenchip’s long-term investment performance is top quartile among environmental thematic mandates and the firm has developed unique sector expertise that is not easily duplicated. Greenchip currently manages an investment strategy with a global energy transition theme and oversees more than $485 million in assets on behalf of foundations, endowments and Canadian families (this amount includes $315 million in assets in the Mackenzie Global Environmental Equity Fund).
Their investment process starts with an exclusive focus on companies whose revenues are generated from selling products within the environmental sectors that aim to support the transition towards sustainable forms of energy. These generally fit into six sectors: renewable energy, energy efficiency, clean technology, water, sustainable agriculture, and transportation.
“Directing capital to sustainable infrastructure and environmental solutions has never been more important,” said John Cook, Co-Founder and President of Greenchip Financial. “Partnering with Mackenzie is not just a great cultural fit – it will enable us to take our sector expertise to a much broader group of investors.”
Mackenzie’s SRI Investing team, led by Fate Saghir, Head of SRI Investing, has taken a number of steps to better address climate change, including supporting the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD), alongside its parent company IGM Financial. SRI investing has been identified by Mackenzie as one of its key business growth catalysts and the firm renewed its commitment to the United Nations’ supported Principles for Responsible Investment by establishing an SRI Centre of Excellence to enhance its SRI practices, capabilities and products.
About Mackenzie Investments
Mackenzie Investments (“Mackenzie”) is a leading investment management firm with $144.5 billion in assets under management as of October 31, 2020. Mackenzie provides investment solutions and related services to more than one million retail and institutional clients through multiple distribution channels. Founded in 1967, Mackenzie is a global asset manager with offices across Canada as well as in Boston, Dublin, London, Beijing and Hong Kong. Mackenzie is a subsidiary of IGM Financial Inc. (TSX: IGM), one of Canada's premier financial services companies with approximately $193 billion in total assets under management as of October 31, 2020. IGM is part of the Power Corporation of Canada group of companies. For more information, visit mackenzieinvestments.com.
About Greenchip Financial Corp.
Greenchip Financial Corp. is an independent environmental investment firm founded in 2007 on a thesis that changing demographics, resource scarcity, and environmental degradation would drive historic opportunities and new risks for investors. Greenchip manages one global environmental equity strategy with over CAD $170 million on behalf of endowments, foundations, and high net worth individuals. Since 2018, Greenchip has also sub-advised the Mackenzie Global Environmental Equity Fund. For more information on Greenchip, please visit greenchipfinancial.com.
For further information, please contact: