Commentary – Mackenzie Diversified Alternatives Fund Series O | Mackenzie Investments

Mackenzie Diversified Alternatives Fund Series O

Asset Class: Alternative Assets

Fund Commentary

Q1 2019 Commentary

The first quarter of 2019 showed a 10.16 % return for global equity stocks, one of the best quarters in several years. The returns were fairly consistent each month, with returns of 3.6%, 3.1% and 2.9% in Jan, Feb, and Mar. All sectors had a positive return, led by the Information Technology sector with an 17.11% return.

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Q4 2018 Commentary

The fourth quarter of 2018 showed a negative return for the Canadian Focused Equity category, the worst 4th quarter in several years.  November had a slight bounce back into positive territory after a continued trend of negative returns from September to October.

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Q3 2018 Commentary

The third quarter of 2017 started where the month of June ended with a negative return of 0.71% for the CFE category for the month of July. Luckily, the next two months were both positive, allowing the CFE Category to return +2.06% for the Quarter.

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Q2 2018 Commentary

The second quarter of 2018 showed a robust return for the CFE Category, with positive returns in all 3 months. After a poor first quarter, Canadian stocks had slightly higher returns compared to US Stocks.

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Fund Commentary

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Portfolio Managers

Matthew Cardillo, CFA

Vice President, Portfolio Manager

Mackenzie Systematic Strategies Team

Investment experience since 2000

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 MSCI World Index is a market capitalization weighted index that is designed to measure the equity market performance of developed markets. The BofA Merrill Lynch Global Broad Market (Hedged to CAD) Index tracks the performance of investment grade debt publicly issued in the major domestic and eurobond markets, including sovereign, quasi-government, corporate, securitized and collateralized securities. Foreign currency exposure is hedged back to the Canadian dollar.