Toronto-based Mackenzie Financial Corp. has reduced the minimum investment for investors to quality for Mackenzie Private Wealth Pools as well as updated the investment strategies and lead managers of those pools.
Starting Sept. 29, the minimum required initial investment for the pools will be lowered to $100,000 from $150,000 per pool. The minimum is waived for household assets of more than $250,000.
The lead portfolio managers on six of the eight pools will also be changing as of Sept. 29.
Alain Bergeron, senior vice president and head of Mackenzie’s asset-allocation team, and Andrea Hallett, vice president and portfolio manager with Mackenzie Asset Allocation Team, will manage:
- Mackenzie Private Global Conservative Income Balanced Pool
- Mackenzie Private Global Income Balanced Pool
- Mackenzie Private Income Balanced Pool (also available in Corporate Class)
- Mackenzie Private Canadian Focused Equity Pool (also available in Corporate Class)
- Mackenzie Private US Equity Pool (also available in Corporate Class)
- Mackenzie Private Global Equity Pool (also available in Corporate Class)
The above pools will also changed to include active currency management for the total portfolio and dedicated tactical asset-allocation to take advantage of market opportunities.
The suite of pools are designed to blend long-term strategic asset allocation with a multi-manager structure that uses professionals from Mackenzie’s investment boutiques, who are encouraged to employ their own strategy and style.
The firm has also announced risk rating changes to 16 mutual funds to better comply with the Canadian Securities updated risk classification methodology.
No changes have been made to the investment objectives of these mutual funds. The entire list of affected mutual funds is available on the firm’s news release .