Mackenzie Financial Services Inc. today announced it has appointed Mark Seferovich and Grant Sarris of Waddell & Reed, Inc. to co-manage the small-mid cap portion of the Mackenzie Universal Select Managers Fund and Mackenzie Universal Select Managers USA Capital Class Fund.

“We’re very pleased to be able to add these two leading small-mid cap managers to our Mackenzie Universal Select Managers funds,” said David Feather, president, Mackenzie Financial Services in his release. “Mark and Grant manage their Waddell & Reed portfolios in a concentrated fashion, with about 50 stocks, using a disciplined style that is designed to preserve capital.”

Mackenzie Universal Select Managers, a multi-manager concept first introduced by Mackenzie in 1998, combines the best ideas of six investment management teams, selecting a concentrated list of securities. Using this approach, the original Mackenzie Universal Select Managers Fund has grown to $2.2 billion in assets since 1998, and from inception to-date, has outperformed the MSCI World Index.

Seferovich and Sarris will take on management of the small-mid cap component of the two funds currently managed by Jim Broadfoot, of Mackenzie Investment Management Inc., a U.S. subsidiary of Mackenzie. Broadfoot continues to manage several Mackenzie Universal mandates that currently are being realigned by the Waddell & Reed team.

The new fund managers aim to maximize value in declining markets and deliver consistent positive performance in rising markets. Seferovich and Sarris focus on moderating the risk associated with small-cap growth equity market investing by balancing aggressive picks with more stable companies in steady-growth industries. This strategy has succeeded in a variety of markets – thriving in growth-led years such as 1998 and 1999, as well as in value-led years like 2001.