Fund Portfolio – Mackenzie USD Global Strategic Income Fund Series A MFC4825 MFC4826 MFC7246 MFC4827 | Mackenzie Investments

Mackenzie USD Global Strategic Income Fund Series A

Asset Class: Global Balanced

Major Holdings (%) Help Top holdings by percentage

As of April 30, 2017
Major holdings represent 15% of the fund.
View all holdings
Total # of
Equity Holdings
82
Total # of
Fixed Income Holdings
165
Holding name, country and sector Percentage of holding in fund
United States Treasury 3.00% 02-15-2047
United States | Foreign Governments
2.5%
Government of Ireland 1.00% 05-15-2026
Ireland | Foreign Governments
2.1%
Government of Poland 3.25% 07-25-2025
Poland | Foreign Governments
1.9%
Government of Mexico 10.00% 12-05-2024
Mexico | Foreign Governments
1.4%
United States Treasury 2.25% 02-15-2027
United States | Foreign Governments
1.3%
Microsoft Corp
United States | Systems Software
1.3%
Wells Fargo & Co
United States | Diversified Banks
1.3%
Deutsche Boerse AG
Germany | Financial Exchanges & Data
1.2%
Broadcom Ltd
United States | Semiconductors
1.1%
British American Tobacco PLC
United Kingdom | Tobacco
1.0%

Complete Fund Holdings Help Full holdings list

As of February 28, 2017
Holding Name No. of Shares/Units Market Value CAD (000s) % of NAV
3M Co. 800 149 0.5%
407 International Inc. 2.43% 05-04-2027 Callable MTN 30,000 22 0.1%
407 International Inc. 3.60% 05-21-2047 Callable 30,000 22 0.1%
Abbott Laboratories 3,700 167 0.6%
AbbVie Inc. 2,900 179 0.6%
Admiral Group PLC 7,014 160 0.5%
African Development Bank F/R 02-24-2019 1,000,000 111 0.4%
Air Liquide SA 2,170 235 0.8%
Algonquin Power & Utilities Corp. 4.09% 02-17-2027 Callable 50,000 39 0.1%
Algonquin Power & Utilities Corp. 4.65% 02-15-2022 80,000 66 0.2%
Alimentation Couche-Tard Inc. 3.32% 11-01-2019 Callable 100,000 79 0.3%
Allergan PLC 1,100 269 0.9%
Allied Properties REIT 3.93% 11-14-2022 Series B 26,000 20 0.1%
AltaGas Ltd. Pfd. Series K 1,890 36 0.1%
Altalink LP 3.72% 12-03-2046 Callable Series MTN 53,000 40 0.1%
Altria Group Inc. 2,800 210 0.7%
American Axle & Manufacturing Inc. Bridge Loan 08-03-2017 Sr. Unsecured 50,000 0.0%
Anheuser-Busch InBev Finance Inc. 2.65% 02-01-2021 Callable 2021 125,000 126 0.4%
Anheuser-Busch InBev Finance Inc. 3.30% 02-01-2023 Callable 2022 30,000 31 0.1%
Anheuser-Busch InBev NV 1,136 126 0.4%
Anheuser-Busch InBev Worldwide Inc. 2.50% 07-15-2022 50,000 50 0.2%
Apple Inc. 1,600 219 0.8%
Atlantia SPA 7,700 180 0.6%
Atlas Copco AB A 5,098 168 0.6%
Bank of Montreal 1.61% 10-28-2021 DPNT 30,000 22 0.1%
Bank of Montreal 1.88% 03-31-2021 DPNT 50,000 38 0.1%
Bank of Montreal 3.32% 06-01-2026 30,000 23 0.1%
Bayer AG 1,730 191 0.7%
Becton, Dickinson and Co. 1,500 275 0.9%
British American Tobacco PLC 4,669 296 1.0%
Broadcom Ltd. 1,600 337 1.2%
Brookfield Asset Management Inc. Pfd. Series 46 1,427 28 0.1%
Brookfield Renewable Energy Partners ULC 3.63% 01-15-2027 Callable 2026 30,000 23 0.1%
Brookfield Renewable Energy Partners ULC 3.752% 06-02-2025 Callable 2025 10,000 8 0.0%
Brookfield Renewable Partners LP Pfd. Series 11 2,110 39 0.1%
Bruce Power L.P. 3.0% 06-21-2024 Callable 2024 Series:17-1 50,000 38 0.1%
Bruce Power LP 2.84% 06-23-2021 50,000 39 0.1%
Bruce Power LP 3.97% 06-23-2026 10,000 8 0.0%
Bureau Veritas SA 5,700 109 0.4%
Caisse Centrale Desjardins 2.09% 01-17-2022 60,000 46 0.2%
Camelot Finance SA 7.875% 10-15-2024 Callable 2019 20,000 21 0.1%
Canadian Imperial Bank of Commerce 1.90% 04-26-2021 DPNT 30,000 23 0.1%
Canadian Imperial Bank of Commerce 3.42% 01-26-2026 Callable 2021 10,000 8 0.0%
Casablanca US Holdings Inc. Term Loan 1st Lien F/R 02-21-2024 10,000 10 0.0%
CenturyLink Inc. Bridge Loan 01-31-2018 1L Sr. Secured 50,000 0.0%
CETIP SA - Mercados Organizados 15,800 238 0.8%
China Mobile Ltd. 12,400 137 0.5%
Cielo SA 10,500 92 0.3%
City of Gothenburg F/R 08-12-2017 400,000 44 0.2%
City of Oslo 2.35% 09-04-2024 2,000,000 239 0.8%
CME Group Inc. 1,800 219 0.8%
Cominar Real Estate Investment Trust 4.25% 05-23-2023 20,000 15 0.1%
Commonwealth of Bahamas 5.75% 01-16-2024 240,000 240 0.8%
Commonwealth of Bahamas 6.95% 11-20-2029 260,000 273 0.9%
Communications Sales & Leasing Inc. Term Loan B 1st Lien F/R 10-24-2022 43,952 44 0.2%
Compagnie Financiere Richemont SA 2,261 168 0.6%
ConvergeOne Holdings Corp. Term Loan 1st Lien F/R 06-16-2020 49,872 50 0.2%
Croda International PLC 1,796 78 0.3%
Daimler Canada Finance Inc. 2.23% 12-16-2021 Series EMTN 30,000 23 0.1%
Danske Bank AS F/R 05-22-2020 1,000,000 112 0.4%
Deutsche Boerse AG 3,774 325 1.1%
DHX Media Ltd. 5.875% 12-02-2021 Callable 2017 20,000 15 0.1%
Diageo PLC 2,600 73 0.3%
dorma+kaba Holding AG 4 4 0.0%
Drive DeVilbiss Healthcare Ltd. Term Loan 1st Lien F/R 12-21-2022 20,000 19 0.1%
Eagle Credit Card Trust 2.147% 09-17-2020 100,000 77 0.3%
Enbridge Inc. 4.00% Cum. Red. Pfd. Series B 1,100 15 0.1%
EnerCare Solutions Inc. 3.38% 02-21-2022 Callable 2022 30,000 23 0.1%
EnerCare Solutions Inc. 3.99% 02-21-2024 Callable 2023 30,000 23 0.1%
Fairfax Financial Holdings Ltd. 4.50% 03-22-2023 100,000 80 0.3%
Fairfax Financial Holdings Ltd. 4.70% 12-16-2026 Callable 2026 30,000 24 0.1%
Fairmount Santrol Holdings Inc. Term Loan B2 1st Lien F/R 09-05-2019 49,667 49 0.2%
Fanuc Corp. 700 138 0.5%
Federative Republic of Brazil 10.00% 01-01-2023 75,000 240 0.8%
Flex Acquisition Co. Inc. 6.88% 01-15-2025 Callable 2020 12,000 12 0.0%
FLIR Systems Inc. 7,883 289 1.0%
Fortified Trust 1.67% 07-23-2021 40,000 30 0.1%
Fortis Inc. 2.85% 12-12-2023 Callable 2023 20,000 15 0.1%
Frontier Communications Corp. 8.75% 04-15-2022 100,000 101 0.3%
Futures Contracts -10 0.0%
Gaz Metro Inc. 1.52% 05-25-2020 10,000 8 0.0%
General Electric Co. 8,900 265 0.9%
General Electric Co. 8.35% 09-03-2022 1,000,000 50 0.2%
Global Eagle Entertainment Inc. Term Loan 1st Lien F/R 12-22-2022 30,000 29 0.1%
Go Daddy Operating Co. LLC Delayed Draw Term Loan 1st Lien F/R 02-06-2024 28,529 29 0.1%
Go Daddy Operating Co. LLC Term Loan B 1st Lien F/R 02-06-2024 21,471 22 0.1%
Government of Bermuda 4.138% 01-03-2023 200,000 206 0.7%
Government of Bermuda 4.854% 02-06-2024 160,000 169 0.6%
Government of Canada 1.25% 12-01-2047 Real Return 175,000 162 0.6%
Government of Canada 2.75% 12-01-2048 20,000 16 0.1%
Government of Canada 3.50% 12-01-2045 20,000 19 0.1%
Government of Chile 5.50% 08-05-2020 110,000,000 178 0.6%
Government of France 0.50% 05-25-2025 150,000 158 0.5%
Government of France 0.50% 05-25-2026 375,000 387 1.2%
Government of France 1.00% 11-25-2025 350,000 380 1.2%
Government of Ireland 1.00% 05-15-2026 200,000 214 0.7%
Government of Ireland 2.00% 02-18-2045 100,000 106 0.4%
Government of Mexico 10.00% 12-05-2024 6,700,000 387 1.2%
Government of Mexico 5.95% 03-19-2019 100,000 109 0.4%
Government of Morocco 4.50% 10-05-2020 50,000 59 0.2%
Government of Netherlands 0.50% 07-15-2026 245,000 264 0.9%
Government of Poland 3.25% 07-25-2025 2,250,000 541 1.8%
Government of Portugal 5.125% 10-15-2024 190,000 185 0.6%
Government of Romania 2.875% 10-28-2024 135,000 154 0.5%
Government of Romania 3.625% 04-24-2024 50,000 60 0.2%
Granite REIT Holdings LP 3.87% 11-30-2023 Callable 2023 30,000 23 0.1%
GST AutoLeather Inc. Term Loan B 1st Lien F/R 07-11-2020 60,226 59 0.2%
Hang Lung Properties Ltd. 86,100 217 0.7%
Harley-Davidson Inc. 2,600 147 0.5%
Heathrow Funding Ltd. 4.875% 07-15-2021 100,000 107 0.4%
Heineken Holding NV A 2,563 196 0.7%
Hennessy Capital Acquisition Corp. II Delayed Draw Term Loan 1st Lien F/R 02-03-2024 5,714 6 0.0%
Hennessy Capital Acquisition Corp. II Term Loan 1st Lien F/R 02-03-2024 14,286 14 0.0%
Highland Acquisition Holdings LLC Term Loan B 1st Lien F/R 11-23-2023 100,000 98 0.3%
Honeywell International Inc. 1,300 162 0.6%
HSBC Holdings PLC 26,700 214 0.7%
Hydro One Inc. 3.72% 11-18-2047 20,000 15 0.1%
Hyperion Insurance Group Ltd. Term Loan B 1st Lien F/R 04-29-2022 99,746 100 0.3%
Inception Merger Sub Inc. 8.63% 11-15-2024 Callable 2019 30,000 32 0.1%
Innocor Inc. Term Loan 1st Lien F/R 02-02-2024 20,000 20 0.1%
Inter Pipeline Ltd. 3.48% 12-16-2026 Callable 2026 10,000 8 0.0%
International Finance Corp. 6.30% 11-25-2024 7,000,000 105 0.4%
iQor US Inc. Term Loan B 1st Lien F/R 04-01-2021 123,553 120 0.4%
iShares iBoxx $ High Yield Corporate Bond ETF Put Option @ $81.00 Exp. 09-15-2017 50 5 0.0%
iShares iBoxx $ High Yield Corporate Bond ETF Put Option @ $85.00 Exp. 05-19-2017 50 3 0.0%
Italy Buoni Poliennali Del Tesoro 0.10% 05-15-2022 125,000 133 0.5%
Italy Buoni Poliennali Del Tesoro 1.25% 12-01-2026 200,000 197 0.7%
Italy Buoni Poliennali Del Tesoro 2.70% 03-01-2047 60,000 58 0.2%
Japan Tobacco Inc. 4,800 160 0.5%
Jardine Matheson Holdings Ltd. 1,800 112 0.4%
JCDecaux SA 139 6 0.0%
Johnson & Johnson 2,100 257 0.9%
JPMorgan Chase & Co. 3,300 299 1.0%
KAR Auction Services Inc. 3,301 148 0.5%
Koninklijke Philips NV 5,787 175 0.6%
Lantheus Medical Imaging Inc. Term Loan B 1st Lien F/R 06-30-2022 48,944 49 0.2%
Lawson Inc. 1,800 124 0.4%
LD Intermediate Holdings Inc. Term Loan B 1st Lien F/R 12-08-2022 10,000 10 0.0%
Lions Gate Entertainment Corp. Term Loan B 1st Lien F/R 10-12-2023 32,000 32 0.1%
Livingston International Inc. Term Loan B2 1st Lien F/R 04-18-2019 49,871 36 0.1%
Lockheed Martin Corp. 700 187 0.6%
London Stock Exchange Group PLC 150 8 0.0%
Luxottica Group SPA 49 3 0.0%
Mackenzie Unconstrained Fixed Income Fund Series R 6,098 47 0.2%
McDonald's Corp. 1,600 204 0.7%
Mexican Bonos 5.00% 12-11-2019 4,200,000 199 0.7%
Mexican Udibonos Inflation Indexed Bonds 4.50% 12-04-2025 350,000 108 0.4%
Mexican Udibonos Inflation Linked Bonds 4.00% 11-15-2040 400,000 116 0.4%
Microsoft Corp. 5,700 365 1.3%
Molson Coors International LP 2.25% 09-18-2018 125,000 95 0.3%
Molson Coors International LP 2.84% 07-15-2023 Callable 2023 30,000 23 0.1%
Molson Coors International LP 3.44% 07-15-2026 Callable Series MPLE 100,000 75 0.3%
Monsanto Co. 1,700 194 0.7%
Moody's Corp. 1,900 212 0.7%
Morgan Stanley 3.00% 02-07-2024 Series MPLE 60,000 46 0.2%
Motorola Solutions Inc. 3,100 245 0.8%
Nestlé SA Reg. 3,759 279 1.0%
New Arclin US Holding Corp. Term Loan 1st Lien F/R 02-08-2024 50,000 51 0.2%
Nielsen Holdings PLC 1,600 71 0.2%
Northern Trust Corp. 1,900 166 0.6%
Novo Nordisk AS B 5,302 189 0.6%
Nykredit Realkredit AS 1.00% 01-01-2021 2,050,000 304 1.0%
Oaktree Capital Group LLC 4,200 188 0.6%
Occidental Petroleum Corp. 2,900 190 0.7%
OPB Finance Trust 2.98% 01-25-2027 Series F 30,000 23 0.1%
Oracle Corp. 5,500 234 0.8%
Outfront Media Inc. 5,700 148 0.5%
Owens & Minor Inc. 5,000 180 0.6%
Paradigm Acquisition Corp. Term Loan 1st Lien F/R 06-02-2022 49,250 49 0.2%
Parkland Fuel Corp. 5.75% 09-16-2024 Callable 2019 50,000 39 0.1%
Pembina Pipeline Corp. 2.99% 01-22-2024 Callable 2023 123,000 94 0.3%
Pembina Pipeline Corp. 3.71% 08-11-2026 Callable 2026 30,000 23 0.1%
Pembina Pipeline Corp. Pfd. Series 1 35 1 0.0%
PepsiCo Inc. 2.50% 11-01-2022 100,000 134 0.5%
Pernod Ricard SA 741 86 0.3%
Philip Morris International Inc. 2,800 306 1.1%
Portugal Obrigacoes do Tesouro OT 2.875% 10-15-2025 90,000 90 0.3%
Portugal Obrigacoes do Tesouro OT 4.10% 02-15-2045 50,000 47 0.2%
Prospect Medical Holdings Inc. Term Loan B 1st Lien F/R 06-30-2022 49,875 50 0.2%
Province of Manitoba 2.85% 09-05-2046 80,000 54 0.2%
Province of Ontario 1.875% 05-21-2020 100,000 100 0.3%
Q Holding Co. Term Loan B 1st Lien F/R 12-18-2021 19,949 20 0.1%
QCP SNF West 8.125% 11-01-2023 Callable 2019 20,000 21 0.1%
Realkredit Danmark AS 1.00% 04-01-2021 900,000 133 0.5%
Realkredit Danmark AS 1.00% 04-01-2022 2,150,000 319 1.1%
Renfro Corp. Term Loan B 1st Lien F/R 01-30-2019 115,649 106 0.4%
REP WWEX Acquisition Parent LLC Term Loan 1st Lien F/R 02-02-2024 20,000 20 0.1%
Republic of Argentina 7.63% 04-22-2046 150,000 152 0.5%
Roche Holding AG Genusscheine 916 224 0.8%
Royal Bank of Canada 1.58% 09-13-2021 DPNT 50,000 37 0.1%
Royal Bank of Canada 1.65% 07-15-2021 10,000 7 0.0%
Royal Bank of Canada 2.33% 12-05-2023 DPNT 10,000 8 0.0%
Royal Bank of Canada 3.31% 01-20-2026 40,000 31 0.1%
Sabre Corp. 9,400 206 0.7%
Safran SA 3,486 250 0.9%
Sage Automotive Holdings Inc. Term Loan 1st Lien F/R 10-27-2022 50,000 50 0.2%
Sands China Ltd. 44,200 184 0.6%
SAP AG 2,383 225 0.8%
Schindler Holding AG PC 1,022 199 0.7%
Schlumberger Ltd. 2,400 193 0.7%
Select Medical Corp. Term Loan B 1st Lien F/R 02-09-2024 10,000 10 0.0%
Source Energy Services Canada LP 10.50% 12-15-2021 Callable 2018 50,000 46 0.2%
SourceHOV LLC Term Loan B 1st Lien F/R 10-29-2019 50,000 50 0.2%
Sun Life Financial Inc. F/R 02-19-2026 Callable 2021 20,000 16 0.1%
Sun Life Financial Inc. F/R 09-25-2025 Callable 2020 80,000 61 0.2%
Superior Plus LP 5.25% 02-27-2024 Callable 2020 10,000 8 0.0%
Sydney Airport Finance Co. Pty. Ltd. 3.625% 04-28-2026 Callable 2026 40,000 40 0.1%
Team Health Holdings Inc. Term Loan B 1st Lien F/R 02-06-2024 50,000 50 0.2%
Telefonica Deutschland Holding AG 44,093 195 0.7%
Telefonica Emisiones SAU 3.987% 01-23-2023 100,000 125 0.4%
Temasek Financial I Ltd. 3.265% 02-19-2020 250,000 186 0.6%
Tencent Holdings Ltd. 3,800 101 0.3%
The Bank of Nova Scotia 1.90% 12-02-2021 Series DPNT 60,000 45 0.2%
The Goldman Sachs Group Inc. 5.20% 12-17-2019 100,000 75 0.3%
The Kraft Heinz Co. 2,100 192 0.7%
The Sherwin-Williams Co. 400 123 0.4%
The Toronto-Dominion Bank 1.68% 06-08-2021 DPNT 30,000 23 0.1%
The Toronto-Dominion Bank 1.91% 07-18-2023 Series DPNT 30,000 22 0.1%
The Toronto-Dominion Bank 2.692% 06-24-2025 Callable 2020 40,000 30 0.1%
The Toronto-Dominion Bank 4.859% 03-04-2031 Callable 2026 MTN 10,000 8 0.0%
The Weir Group PLC 5,442 128 0.4%
Tong Ren Tang Technologies Co. Ltd. 35,300 65 0.2%
TransAlta Corp. Pfd. Series A 1,770 17 0.1%
TransCanada Corp. 4.00% Pfd. Series 7 238 4 0.0%
TransCanada Corp. Pfd. Series 15 3,604 70 0.2%
TransCanada Pipelines Ltd. 3.125% 01-15-2019 20,000 20 0.1%
TricorBraun Inc. (KRAIND) Delayed Draw Term loan 1st Lien F/R 11-28-2023 9,091 9 0.0%
TricorBraun Inc. (KRAIND) Term Loan 1st Lien F/R 11-28-2023 90,909 92 0.3%
Trinidad Generation UnLtd. 5.25% 11-04-2027 200,000 201 0.7%
Uber Technologies Inc. Term Loan B 1st Lien F/R 07-07-2023 49,925 50 0.2%
Unilever NV CVA 3,500 165 0.6%
Union Gas Ltd. 2.81% 06-01-2026 Callable 50,000 38 0.1%
United Parcel Service Inc. (UPS) Class B 1,300 137 0.5%
United States Treasury 2.85% 01-15-2027 225,000 321 1.1%
United States Treasury Inflation Indexed Bonds 0.63% 01-15-2026 450,000 469 1.5%
United States Treasury Inflation Indexed Bonds 0.75% 02-15-2045 100,000 100 0.3%
United States Treasury Inflation Indexed Bonds 1.02% 02-15-2046 200,000 211 0.7%
United States Treasury Inflation Indexed Bonds 2.125% 02-15-2041 160,000 227 0.8%
Universal Hospital Services Inc. 7.625% 08-15-2020 Callable 100,000 101 0.3%
Verizon Communications Inc. 2.63% 08-15-2026 Callable 2026 60,000 55 0.2%
Vestas Wind Systems AS 67 7 0.0%
Videotron Ltee 5.75% 01-15-2026 Callable 2020 10,000 8 0.0%
Visa Inc. Class A 2,200 193 0.7%
Volkswagen Financial Services NV 1.75% 04-17-2020 50,000 63 0.2%
WellDyneDx Inc. Term Loan 1st Lien F/R 10-12-2023 15,000 14 0.0%
Wells Fargo & Co. 7,200 417 1.3%
Wells Fargo & Co. 2.51% 10-27-2023 30,000 23 0.1%
Wells Fargo & Co. 2.975% 05-19-2026 Series MPLE 180,000 134 0.5%
Windstream Services LLC Term Loan 1st Lien F/R 03-18-2021 35,000 35 0.1%
Total Investments -- 27,792 95.4%
Cash & Equivalents -- 1,183 4.1%
Other Assets (Liabilities) -- 138 0.5%
Total Net Assets -- 29,113 100.0%

Asset Allocation (%) Help Holdings by region and sector

As of April 30, 2017
  • Regional Allocation
      United States
    EQ : 26.3% | FI : 15.1%
    41.4%
      Other
    EQ : 12.8% | FI : 17.2%
    30.0%
      Canada
    FI : 5.2%
    5.2%
      United Kingdom
    EQ : 3.9%
    3.9%
      Mexico
    FI : 3.9%
    3.9%
      Germany
    EQ : 3.4%
    3.4%
      Switzerland
    EQ : 3.1%
    3.1%
      Denmark
    FI : 2.9%
    2.9%
      Cash & Equivalents 6.2%
  • Sector Allocation
      Fixed Income 44.1%
      Industrials 9.1%
      Information Technology 8.5%
      Financials 8.4%
      Consumer Staples 7.2%
      Health Care 6.9%
      Cash & Equivalents 6.2%
      Consumer Discretionary 2.5%
      Materials 2.3%
      Other 2.1%
      Energy 1.5%
      Real Estate 1.2%
Credit Allocation (%)
AAA 12.7%
AA 3.2%
A 12.6%
BBB 5.5%
BB 4%
B 4.5%
C 0.4%
NR 1.4%
Cash & Equivalents 6.2%
Equities 49.6%

Other Global Balanced Funds

Portfolio Managers

Steve Locke, MBA, CFA

Senior Vice President, Portfolio Manager, Head of Team

Mackenzie Fixed Income Team

Investment experience since 1995

Darren McKiernan, CFA

Senior Vice President, Portfolio Manager, Head of Team

Mackenzie Global Equity & Income Team

Investment experience since 1995

Konstantin Boehmer

Vice President, Portfolio Manager

Mackenzie Fixed Income Team

Investment experience since 2003

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 52.5% MSCI World and 47.5% BofA Merrill Lynch Global Broad Market (Hedged to USD).

†The major holdings of the Fund may, but do not necessarily, represent the largest holdings of the Fund. Rather, the major holdings are selected for their overall significance in evaluating the investment portfolio. Please see mackenzieinvestments.com/currency to view the funds/products using currency derivatives to hedge exchange risk.

‡ Credit ratings and rating categories are based on Standard & Poor’s or DBRS (or equivalent ratings issued by other approved credit rating organizations).