Canada Business Report 2017

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Discovery Reports

Mackenzie Investments celebrates 50 years of client-centricity and innovation

Canadian independent asset manager woos millennial and female investors and takes stake in China Asset Management Co

PUBLISHED : Monday, 13 November, 2017, 5:36pm
UPDATED : Tuesday, 14 November, 2017, 9:39am

A strong legacy of client-centricity and innovation echoes throughout the 50-year history of Mackenzie Investments, according to Barry McInerney, president and CEO of the Canadian investment management firm.

Starting from founder Alexander Christ’s sole client in 1967 to more than one million clients today, Mackenzie has built a solid reputation as an independent asset manager with an unwavering commitment to investor success.

In a world of accelerating change, Mackenzie helps investors cultivate a strong future through a holistic approach towards building and preserving wealth.

Working as a partner to financial advisers, Toronto-based Mackenzie offers one of the widest ranges of products and services among independent Canadian asset managers, encompassing mutual funds, exchange-traded funds (ETFs), alternative investments, private wealth pools and managed solutions. It caters to retail investors across Canada through their advisers and institutional clients globally.

As of end-August, Mackenzie has C$68.22 billion (HK$426.72 billion) in assets under management (AUM) expertly administered by 10 in-house investment boutiques.

“We’re part of a rapidly changing financial services market. We evolve and adapt as required, but we remain steadfast to our foundational strategy – that is we are singularly focused on meeting investor needs,” McInerney says.

Apart from offering income generation while protecting capital, Mackenzie’s innovative solutions are aligned with leading trends in the Canadian and global investment industries.

Last year, Mackenzie launched ETFs to complement its mutual fund portfolios and to take part in the fastest-growing segment of the global asset management industry. As of end-September, it has reached nearly C$1 billion in AUM for the ETF platform, and ranked ninth in Canada in terms of size.

China has the fastest-growing asset management industry in the world, and the government is creating an extensive retirement system in support of its fast-ageing population
Barry McInerney, president and CEO, Mackenzie Investments

Alternative investments, which used to be only available to accredited investors or large institutions, are offered by Mackenzie to retail investors through professional advisers. Some of its successful alternative products that satisfy investor needs for retirement income and volatility management are the Mackenzie Diversified Alternatives and Unconstrained, Floating Rate Bond Funds.

Mackenzie is also developing socially responsible investment solutions to attract millennials and women who are more financially in control – two demographics set to transform the investment world. Both are socially engaged groups preferring investments that make a positive impact on society. This year, Mackenzie will unveil women leadership mutual funds and ETFs that invest in companies promoting gender diversity and with female executives.

“Understanding trends is a competitive strength that Mackenzie brings to the table as a holistic and solutions-oriented asset manager,” McInerney says. “We are forward-thinkers and are focused on staying ahead of the curve when it comes to investment opportunities.”

As it celebrates its 50th anniversary, Mackenzie is planting firm roots in Asia with the acquisition of a 13.9 per cent stake in China Asset Management Co (CAMC). CAMC, a well-diversified asset manager firm with strong investment performance across multiple asset classes, will help drive distribution of Mackenzie’s investment strategies in China and across Asia.

Mackenzie is also set to open a representative office in Beijing to complement its presence in Hong Kong via IGM Financial. Using the Beijing-Hong Kong hubs, the company intends to expand outside of China to initially cater to institutional investors in Taiwan, South Korea and Japan. Mackenzie is also open to advisory opportunities.

“We are extremely excited with our strategic partnership with CAMC,” McInerney says. “China has the fastest-growing asset management industry in the world, and the government is creating an extensive retirement system in support of its fast-ageing population. Opportunities abound for investment advisers in the region.”