(October 27 – 11:05 ET) – Mackenzie Financial Services Inc. is launching four new mutual funds to expand its line of Universal Select Managers funds. Each of the new funds promises to offer a “one-decision solution” to investing either in the United States, Japan, the Far East or international markets.
Based on the very successful Universal Select Managers Fund, the new funds follow the same formula. Each fund offers investors the expertise of five or six specialist teams managing a single fund. Each team picks about 10 securities.
“Our select managers are given a straight-forward task,” says David Feather, executive vice president, Mackenzie Financial Services Inc. “Each of them is asked to provide their best stock picks from their respective investment style, region or industry of expertise. They are responsible for giving us their best ideas, and nothing more. We take care of diversity by combining complementary teams.”
Stockpicking for the new funds comes courtesy of some of the most prominent investment management firms from around the world including Alliance Capital, Chase Fleming, Credit Suisse, Dresdner RCM , Henderson Investors, Jardine Fleming, Premier Asset Management, Salomon Smith Barney, United Overseas Bank Asset Management as well as Mackenzie’s own teams in the U.S. and Canada.
The new funds will also be available in RSP-eligible versions.
-IE Staff