Toronto-based Mackenzie Financial Corp. on Thursday announced that Jonathan Norwood and Richard Wong have joined Mackenzie as vice presidents and portfolio managers and will co-lead the Mackenzie Cundill team.
They succeed Lawrence Chin and Andrew Massie, senior vice presidents and co-leads of Mackenzie Cundill. Chin will be leaving the firm to pursue a career opportunity outside of the mutual fund industry effective April 30, after 10 years with Mackenzie. Massie will be retiring effective August 31, after over 30 years in the mutual fund industry.
“The Cundill name has a storied heritage and is synonymous with value investing,” says Tony Elavia, chief investment officer, in a statement. “The Cundill boutique will benefit from the added portfolio construction skill-sets of these portfolio managers who have proven expertise in global value investing with institutional asset managers.”
Norwood has more than 18 years of experience in portfolio management, equity research and financial modelling, including positions with Louisburg Investments, Seamark Asset Management and Beacon Securities
Wong also has more than 18 years of fundamental equity analysis and portfolio construction experience, including serving as a global portfolio manager at a Canadian institutional value investment firm. He has previously worked with Lincluden Investment Management and TD Securities.
“The disciplined value investing style in the tradition of the late Peter Cundill, a legendary investor and former Chairman emeritus of Mackenzie Cundill, will be further enhanced with the addition of these two managers,” adds Jeff Carney, president and CEO.
Norwood and Wong will manage Mackenzie Cundill Value Fund and Mackenzie Cundill Value Class and join the portfolio management team for Mackenzie Global Concentrated Equity Fund, Mackenzie Global Concentrated Equity Class and Mackenzie Global Diversified Equity Class.
As part of these changes, Norwood and Wong along with William Aldridge, vice president and portfolio manager, join the portfolio management team for Mackenzie Cundill Canadian Security Fund, Mackenzie Cundill Canadian Security Class, Mackenzie Canadian Concentrated Equity Fund and Mackenzie Cundill Canadian Balanced Fund.
In addition, Norwood will manage Mackenzie Cundill US Class and Wong will join the portfolio management team for the portions of the Symmetry Portfolios managed by the Mackenzie Cundill team.
Mackenzie thanks Chin and Massie for their contributions.
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