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Toronto-based Mackenzie Investments has launched a new balanced fund, the company announced Wednesday.

Mackenzie Global Growth Balanced Fund aims to provide strong geographic diversification and enhanced return potential, says a release. The growth-oriented fund offers a well-diversified but concentrated portfolio of global equities, complemented by a tactical fixed income portfolio that seeks stability and excess returns.

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The fund is actively managed by the Mackenzie Bluewater team and the Mackenzie fixed income team.

Mackenzie’s multi-asset strategies team will provide the fund’s top-level tactical asset allocation strategy, the company says.