TORONTO, May 20, 2015 /CNW/ - Mackenzie Investments has doubled its suite of "true" U.S. dollar (USD) funds, launching four new mandates. By expanding its solutions to meet the increasing demand of Canadian investors for easy-to-use and flexible U.S dollar funds, Mackenzie now offers one of the broadest ranges of true USD funds in the industry. The result is a comprehensive suite of USD solutions to meet longevity and income needs, while controlling volatility.
This new set of products – which include differentiated mandates from others in Canada – are true U.S. dollar funds because they are primarily exposed to U.S. dollars through U.S. securities and/or hedging non-U.S. currency exposure back to U.S. dollars, and they can also be purchased, settled, redeemed and have their performance and NAV (Net asset value) reported in U.S. dollars.
These four new funds complement an existing set of four funds with U.S. dollar purchase options from Mackenzie, completing a full spectrum across fixed income, balanced, convertibles, equities and specialty asset classes. Mackenzie now offers eight true U.S. dollar funds across the risk/return spectrum.
"There is an increasing demand for U.S. dollar investments, whether it is investors planning to spend time in the U.S. during retirement or those Canadians who want to keep investments in U.S. dollars," said Michael Schnitman, Senior Vice President, Product. "With our expanded suite of true U.S. dollar products, we have made U.S. dollar investing straightforward and ensured we'll be there to meet their investment needs."
The new funds can meet a range of needs for U.S. dollar investors:
Mackenzie USD Ultra Short Duration Income Fund is a first of its kind in Canada, and aims to generate income in U.S. dollars, with an emphasis on capital preservation, by investing primarily in short-term, high quality corporate and government fixed income securities issued in the United States. It is designed for investors looking for a broader range of income opportunities than are typically available in money market funds but with lower volatility and interest rate sensitivity than traditional short-term bond funds. The Fund limits market risk through modern portfolio strategies. It is suited for Canadians who frequently travel to or spend a substantial amount of time in the U.S. and would like to keep U.S. funds in a low risk, low volatility investment.
Mackenzie USD Global Tactical Bond Fund aims to generate income and achieve long-term capital growth in U.S. dollars by investing primarily in a diversified portfolio of fixed income securities issued by companies or governments of any size, anywhere in the world. No matter what country the Fund is investing in, security selection and credit-rating or currency decisions are made from the perspective of a U.S. dollar investor and the fund will be primarily exposed to the U.S. dollar.
Mackenzie USD Global Strategic Income Fund seeks income and the potential for long-term capital growth in U.S. dollars by investing primarily in fixed income and/or income-oriented equity securities of issuers anywhere in the world – while being primarily exposed to the U.S. dollar. Within fixed income, the Fund uses qualitative and quantitative analysis to identify and select securities, allocating assets across credit quality, yields, structures, sectors, currencies and countries. Within the equity portion, the Fund includes quality dividend-paying companies trading at a discount across all geographies.
Mackenzie USD Convertible Securities Fund is unique to the Canadian mutual fund industry. It seeks to generate long-term capital appreciation and income in U.S. dollars by investing primarily in convertible securities of U.S. companies. Convertible securities are sensitive to the upside potential of equities. A convertibles performance in down markets is bolstered by the contractually guaranteed income from convertible securities. This Fund can be a great complement to a traditional portfolio of equity and fixed income investments.
About Mackenzie Investments
Mackenzie Investments was founded in 1967, and is a leading investment management firm providing investment advisory and related services. With $73.9 billion in assets under management as at April 30, 2015, Mackenzie Investments distributes its investment services through multiple distribution channels to both retail and institutional investors. Mackenzie Investments is a member of the IGM Financial Inc. (TSX: IGM) group of companies. IGM Financial is one of Canada's premier financial services companies with over $147 billion in total assets under management as at April 30, 2015. For more information, visit mackenzieinvestments.com.
SOURCE Mackenzie Financial Corporation