Mackenzie Financial Corp. today appointed in-house Mackenzie investment manager Wendy Chua, assistant vice president, investments, as lead portfolio manager of Mackenzie Universal Health Sciences Capital Class fund, effective August 31.

Mackenzie says Chua will be supported by Mackenzie’s growth investment team comprised of senior vice president, Ian Ainsworth, and vice president, Mark Grammer.

“Wendy and her colleagues bring three key strengths to the management of this fund: a strong technical background, dedicated healthcare investment experience and proven track records,” says David Feather, president, Mackenzie Financial Services Inc.

Chua joined Mackenzie in 2002 from Altamira Management Ltd., where she led the firm’s health science and biotechnology funds and provided equity research on global healthcare for some of the firm’s other equity funds. Since joining Mackenzie, Chua has been responsible for analysis and research of global healthcare and biotechnology opportunities for Mackenzie Universal Future Fund, Mackenzie Universal Global Future Fund and Mackenzie Universal Emerging Technologies Capital Class.

Chua replaces the fund’s previous sub advisor Alliance Capital Management Canada Inc. Mackenzie says bringing management of the fund in-house makes it possible to reduce the fund’s management fee by 0.25% to 2.00%. The reduction now puts the fund’s management fees on par with the lowest in the health sciences category.

“This is a case where we’re now able to bring our own highly experienced and capable investment team to the fund, while also allowing us to lower fees for investors,” adds Feather.

The fund’s mandate to pursue long-term capital growth through investments in the health sciences industry will remain intact. Keeping within the mandate, Chua will continue to manage a broadly diversified portfolio emphasizing the major healthcare sectors including pharmaceuticals, medical technology, medical devices, medical services and biotechnology. However, based on market conditions, the investment team’s strategy will also reflect a greater willingness to emphasize certain sectors or ranges of market capitalization as opportunities arise.

Alliance will continue to manage Mackenzie Universal Growth Trends Capital Class and Mackenzie Sentinel Tactical Bond Fund, as well as co-manage a portion of Mackenzie Select Managers USA Capital Class and Mackenzie Select Managers Japan Capital Class funds.