(October 28 – 11:10 ET) – Mackenzie Financial Corporation says their prospectus has been cleared by the Canadian Securities Regulators for the sale of three new mutual funds.
The Industrial Yield Advantage Fund is designed to provide higher income than government bonds–without significantly increasing risk–by investing primarily in investment grade corporate bonds, and other high yield bonds rated BBB or lower. Canadian securities in the portfolio are chosen by lead manager, Chris Kresic. The foreign component, set at a minimum of 15% of the portfolio is directed by Mackenzie Investment Management Inc.(MIMI), the fixed income team in Boca Raton, Florida.
Cundill Global Balanced Fund allows Canadian investors to participate in a balanced portfolio of equity and fixed income investments that managers consider to be significantly undervalued. Leslie Ferris, Peter Cundill, David Briggs, and James Morton direct the fund investing style to selection of stocks and bonds around the world. Depending on economic and market conditions, the asset mix will range from 25% to 75% equities or bonds.
Universal U.S. Blue Chip Fund invests in a diversified portfolio of 60-70 large capitalization U.S. stocks–balanced between value and growth companies–across all market sectors. The fund is managed by Paul Baran of MIMI, who previously used the same management style in directing a similar U.S.-based. Since November 1998, Baran has also directed the Ivy U.S. Blue Chip Fund, marketed in the U.S. by MIMI though independent financial advisors.
-IE Staff
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