Commentary – Mackenzie Canadian Growth Balanced Fund Series O5 | Mackenzie Investments

Mackenzie Canadian Growth Balanced Fund Series O5

Asset Class: Canadian Balanced

Fund Commentary

Q1 2019 Commentary

Q1 2019 Commentary

The equity and credit market volatility of Q4 2018 made a complete 180 degree turn in the first quarter of the new year. While a fair amount of the blame for the sell-off that ended 2018 lays at the feet of the Federal Reserve and its hawkish monetary policy stance at the time, the ensuing bounce this year is mainly thanks to the Fed’s “dovish” pivot.

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Q4 2018 Commentary

The focus for markets through much of the fourth quarter was the political drama surrounding the US tax bill and, of course, the price of Bitcoin. The US tax bill was debated and passed by both the House and Senate, and signed by President Trump before year-end. 

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Q4 2018 Commentary

The fourth quarter of 2018 saw large declines in equity markets globally and a sharp upswing in volatility.  There have been several large market pullbacks over the past decade and in each case markets gradually recovered and then went on to new highs.

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Fund Commentary

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Other Canadian Balanced Funds

Portfolio Managers

Dina DeGeer, MBA, CFA

Senior Vice President, Portfolio Manager, Head of Team

Mackenzie Bluewater Team

Investment experience since 1985

David Arpin, MA, CFA

Senior Vice President, Portfolio Manager

Mackenzie Bluewater Team

Investment experience since 1995

Steve Locke, MBA, CFA

Senior Vice President, Portfolio Manager, Head of Team

Mackenzie Fixed Income Team

Investment experience since 1995

Felix Wong, MBA, CFA

Vice President, Portfolio Manager

Mackenzie Fixed Income Team

Investment experience since 1988

Konstantin Boehmer, MBA

Vice President, Portfolio Manager

Mackenzie Fixed Income Team

Investment experience since 2003

Dan Cooper, CFA

Vice President, Portfolio Manager

Mackenzie Fixed Income Team

Investment experience since 2003

Movin Mokbel, MBA, CFA

Vice President, Portfolio Manager

Mackenzie Fixed Income Team

Investment experience since 2000

Nelson Arruda, CFA

Vice President, Portfolio Manager

Mackenzie Multi-Asset Strategies Team

Investment experience since 2009

Effective January 2, 2019, the distribution rate of series T6 (including F6, O6, J6, S6. PWT6, FB6, PWFB6, PWX6) will change from 6% to 5%. The name of the series will change to reflect that (i.e. T6 will be renamed T5). The fund code will remain the same.

Commissions, trailing commissions, management fees, brokerage fees and expenses may be associated with investment funds. 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 does not take into account sales, redemption, distribution, or optional charges or income taxes payable by any security holder that would have reduced returns. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated.

For changes in the business, operations or affairs of an investment fund, and reorganization or acquisition of assets in an investment fund during the most recent 10 years that could have materially affected the performance of the investment fund, please refer to the "Major Changes During the Last 10 Years” section in the most recent Annual Information Form.

Mutual Fund US Dollar Settlement Option details.

Index performance does not include the impact of fees, commissions, and expenses that would be payable by investors in the investment products that seek to track an index.

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 the investment fund or asset allocation service or returns on investment in the investment fund or from the use of the asset allocation service.

* The blended index is composed of 65% S&P/TSX Composite Index and 35% FTSE Canada Universe Bond Index.