Toronto based Mackenzie Investments has announced the launch of a pair of mutual fund products with Paris headquartered manager Tobam.
The mutual funds, Mackenzie High Diversification Canadian Equity Class Fund and Mackenzie High Diversification US Equity Fund, rely on Tobam’s methodology that protect portfolios form structural bias and unmanaged risks.
Mackenzie Investments said the mutual funds invest in the Mackenzie Maximum Diversification Index ETFs designed with Tobam (Mackenzie Maximum Diversification Canada Index ETF and Mackenzie Maximum Diversification US Index ETF) and may also invest a portion of its assets in other ETFs, or in securities directly.
The Mackenzie High Diversification Canadian Equity Class fund seeks to invest in Canadian equities, either directly or through other investment funds.
It aims to bring diversification beyond Canada’s top three market sectors: energy, materials and financials.
The Mackenzie High Diversification US Equity fund provides access to global stock markets.
“Tobam’s award-winning methodology is now exclusively available through Mackenzie Investments as both ETFs and mutual funds to help all Canadian retail investors address their evolving needs,” said Tony Elavia, executive vice president and chief investment officer for Mackenzie Investments.
“We are pleased to offer this unique investment methodology to Canadian retail investors who are seeking better diversification to potentially outperform benchmarks,” he added.
Established in 1967, Mackenzie Investments had $61.4bn (€55.9bn) in assets under management as at 31 May 2016.
Tobam’s strategies apply a maximum diversification approach in equity and fixed income markets. The company managed €7.3bn as of end March 2016 across its anti-benchmark strategies and a series of indices.