Mackenzie Mutual Funds was created in December 1967 by the company founder Alex Christ in Toronto, Ontario. The company went public in 1977 and was listed on the Canadian Stock Exchange. Mackenzie acquired Ivy Management in 1992, Universal Group of Funds in 1998 and Cundill Funds in 1998. In 2001, Mackenzie Investments was acquired by Investors Group which created IGM Financial. Mackenzie continued acquiring companies such as Cundill Investment Research LTD & The Cundill Group in 2006. In 2008 Mackenzie acquired Howson Tatterson Investment Counsel.
What exactly is a mutual fund? Very simply, a mutual fund is a pool of money contributed by people with similar investment objectives. Investor's share the funds income, expenses and the gains and losses the fund makes on it's investments in proportion to the securities they own. A mutual fund may own securities of different types of stocks, bonds, securities of other mutual funds, derivatives and cash depending on the investment objectives. The value of these securities will vary on a day to day basis reflecting changes in interest rates, economic conditions, stock market developments and individual company news. As a result the value of a fund's securities will go up and down on a daily basis and the value of your investment in a mutual fund may be more or less when you redeem it than when you purchased it.
Mackenzie Mutual Funds is divided into eight different types of funds. As with all mutual funds, each fund family has a unique investment style and investment approach:
- Cundill Funds – focus on deep value contrarian investing
- Focus Funds – multi-managed focusing on "Best Ideas" equity funds
- Ivy Funds – focus on patiently acquiring ownership in selected businesses
- Mackenzie Funds – focus on long standing quality from the original Mackenzie Growth Fund started in 1967
- Maxxum Funds – focus on dividend and capital appreciation
- Saxon Funds – focus on disciplined value investing consistently applied over the last two decades
- Sentinel Funds – focus on providing disciplined fixed income value investing
- Universal Funds – focus on providing a wide range of investment approaches and choices. Investments are based on specific sectors and investment styles in Canada and globally
Mackenzie Financial Mutual Funds do not guarantee that the full amount of your original investment in a fund will be returned to you. These mutual fund securities are not covered by the Canada Deposit Insurance Corporation. This type of investment differs from the guarantee that is received with a bank account or a guaranteed investment certificate.
Mackenzie provides a risk assessment questionnaire to find out the time horizon, growth and income requirements and tolerance for risk. Based on the results of the questionnaire fund selections can be made which closely match the desired outcomes.
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