Thursday, July 25th, 2024

Mackenzie fund mergers 2021

This only affects those who own Mackenzie Investments Capital Class funds, in particular those held in non-registered accounts. Affected clients will have just received an explanatory letter from Mackenzie but I wanted to provide some additional comments. First, here is a timeline to provide context. Mutual funds in Canada are offered in two legal structures: […]

Update – Trimark Global Endeavor

April 20, 2016 by  
Filed under Invesco Trimark, Money manager reports

Erin Greenfield, co-manager of the Trimark Global Endeavor Fund spoke to financial advisors in Ottawa in November 2015. The investment philosophy of the whole Trimark team has several primary characteristics: Recognize you are buying a business, not just a stock; Focus on quality of the company and its management; Use a strict discipline when assessing the […]

Ivy: a brief history

Reprinted with permission from the Mackenzie Ivy Quarterly Report, Q3 2015. Ivy was established at Mackenzie back in 1992 and it is a reflection of Jerry Javasky, co-founder of Ivy and his very cautious and diligent investment style. There have been a number of people over the years (some who have come and gone) that have made […]

Ivy: success explained

Reprinted with permission from the Mackenzie Ivy Quarterly Report, Q3 2015. Ivy has had a long-term track record of success not only in terms of mutual fund returns but also with respect to client outcomes. We believe this success has been achieved primarily because of our belief system, which has been built upon by the […]

Cundill Value Fund update

I recently had the opportunity to privately talk with Lawrence Chin, co-manager of the Mackenzie Cundill Value Fund. Lawrence noted that the fund has under performed the group average recently due to its exposure to some energy and materials companies and lack of exposure to large high tech companies, combined with the fact the market […]

Investment value moves around the world

I recently met again with Lawrence Chin, co-manager of the Cundill Value Fund.  One of the things that frequently strikes me about the Cundill team’s work is how they search the world for deep value investment opportunities and how the best ones are so often found before the rest of the world gets excited about […]

Ivy Foreign Equity manager comments – clear thinking if you ask me

Here is an excerpt from a recent written commentary provided by the managers of the Ivy Foreign Equity Fund.  I found it very insightful and worth sharing. Investing can often be unnerving. When markets are expensive there is fear that the bubble will pop. Conversely, when markets are falling and thus leading to better valuations, the worry […]

Ivy Quarterly Review

Occasionally an investment manager writes so well and with such insight that I want to share it with clients.  This is the case with the current Mackenzie Ivy Quarterly Review, in which the Ivy managers discuss their broad views about the current state of the world economy and investment markets.  Among other things, they discuss […]

Ivy Through The Cycles

January 12, 2014 by  
Filed under Mackenzie Investments

Paul Musson and Matt Moody from the Mackenzie Ivy team were in Ottawa in early January to refresh advisors’ knowledge of how the Ivy investment discipline works, and they provided me with a small booklet that summarizes how the Ivy Foreign Equity Fund has done over four market cycles since the fund started in 1992. […]

Interview with Phil Taller, Manager of the Mackenzie US Mid-Cap Growth fund

February 25, 2013 by  
Filed under Mackenzie Investments, Money manager reports

When Phil Taller, lead manager of the Mackenzie Universal American Growth Fund was in Ottawa recently, I took the opportunity to schedule a short video interview with him.  In 14 minutes I covered about five major questions.  The audio and video quality may not be high quality but the information certainly is. A click on […]

Cundill Value Fund – manager comments from the Mackenzie conference

Here are some remarks from the Cundill fund managers that I wrote down as they spoke at the November 2012 Due Diligence conference. We are not depending on economic growth to make gains for the fund, but on a return of shares owned by the fund to a fair level. We are most active in […]

Comments from US Mid-Cap Growth Fund manager at the Mackenzie conference

Here are some remarks from the manager of the Universal American Growth Fund that I wrote down as he spoke at the November 2012 Due Diligence conference. Protection is earned by owning companies that produce real value. The basic threat investors face is that money in treasury bills is losing money after inflation. We are […]

Ivy Foreign Equity – comments from the Mackenzie conference

Here are some remarks from the Ivy fund managers that I wrote down as they spoke at the November 2012 Due Diligence conference. The world is a mess these days, so we are allocating capital as efficiently as possible, trying to own really good companies with a five to ten year view Seek to own […]

Video interview with Cundill Value Fund manager Andrew Massie

November 20, 2012 by  
Filed under Investing, Mackenzie Investments, Mutual Funds

When lead manager Andrew Massie was in Ottawa in the fall of 2012 I had the opportunity for a brief interview.  I asked him: 1. As an investor in the fund, why should I feel safe with my money in the fund?  What does “safety” in a long term investment mean to you? 2.To what […]

Ivy Foreign Equity Fund turns twenty

Happy 20th birthday to the Ivy Foreign Equity Fund! Fund Manager Paul Musson sent me the following message on October 16th. Twenty years ago today, Mackenzie founded the Ivy group of funds. At that time, who was to know that over the ensuing 10 years we would experience a bull market focused on technology followed […]

Some perspective from the Cundill team

Dear Investor: It’s painful in the markets, but bargain-priced stocks beckon. Sincerely, James Morton ————————————————————————————- The Cundill Funds are a group of funds within the Mackenzie family of funds.  Many of you own the Cundill Value Fund, their flagship global equity fund.  Cundill team member James Morton specializes in emerging markets and turnaround situations and […]

Investing in the spirit of innovation and growth

From the outside the United States looks like a troubling place to invest, with an unchecked deficit and a slowing economy. But when Phil Taller, Manager, Mackenzie Universal American Growth Class, travels across the US, he finds another America behind the dark headlines – one that is thriving by constantly resetting the limits of technology.  […]

Cundill Value Fund – loaded with bargains

In a recent commentary from Andrew Massie, lead manager of the Cundill Value Fund, he highlighted two of the major themes the fund is currently following – the recovery of US financial institutions and the values available in some large technology companies.  I have provided a few of the questions and answers below and my […]

AGF money manager report March 2012

Rory Flynn, AGF International Advisors Chief Investment Officer since Sept. 2011 and with AGFIA since 1992, spoke to financial advisors by webcast. Funds managed by AGFIA have experienced below average performance over the last four years due to their relatively high investment in European companies and European financial companies in particular.  The companies owned by […]

Vengrowth/Covington annual 15% redemption

January 6, 2012 by  
Filed under Covington venture funds

As a Covington Fund II shareholder, when can I take my first annual 15% fee-free redemption? At the time of the merger, investors could pay a fee to redeem matured shares and those transactions have been completed.  Covington will communicate with financial advisors when the back office conversion has been completed and the first redemption […]

Mackenzie Ivy Foreign Equity Fund money manager report

On December 7th I participated in a conference call with the team that manages the Mackenzie Ivy Foreign Equity Fund.  The fund has been among the best global equity funds over a long period and has done so with much lower than average price volatility.  Since the beginning of the tech decline in 2000, the […]

Mackenzie conference report

In May 2011 I attended Mackenzie University, a full-day professional development seminar and in September 2011 I attended the annual Mackenzie Due Diligence conference, a full-day session where several money managers and tax and estate planning experts provide perspectives, updates and educational content.  In no particular order, here are some notes I made, divided by […]

Trimark – 30 years with the same style

In September 2011 the Trimark Fund and Trimark Canadian Fund turned 30. This is remarkable and almost unique because most funds are relatively new and even fewer have followed the same management style for so long. As current Trimark Fund manager Dana Love said in a recent interview “The investment process is consistent across the […]

AGF Money Manager Report August 2011

In a recent conference call featuring four AGF money managers to discuss the issues of U.S. and European government debt levels, Rory Flynn of AGF International Advisors (AGFIA is the manager of AGF Global Value, AGF International Stock, AGF European Equity) had the following comments: 1. European equities in general are trading at the extreme low end of their historical […]

Vengrowth merger into Covington II Fund

October 3, 2011 by  
Filed under Covington venture funds

VenGrowth shareholders have overwhelmingly endorsed the Covington Offer to acquire the VenGrowth Funds. More than 90 per cent of votes were cast in favour of the Covington Offer, according to preliminary results presented. The two companies will proceed to merge back office system and expect to be ready to pay out cash to shareholders who […]

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