Mackenzie Financial Corp. (Mackenzie Investments) Monday announced the formation of the Mackenzie Global Emerging Markets Team, based in Singapore.
Jan Cornelis de Bruijn, noined the firm on September 1 as senior vice oresident, Investment Management and will lead the new team.
de Bruijn has 22 years of investment experience with significant expertise in building, developing and leading emerging markets investment teams.
“Jan brings a well-diversified, thematic approach, backed by a robust and repeatable investment process,” said Tony Elavia, chief investment officer at Mackenzie Investments. “As emerging markets grow in economic importance, his role in delivering investment expertise and on-the-ground analysis will provide clients with exposure to this important growth potential.”
In conjunction with this announcement, Mackenzie Investments is proposing to change the investment objectives of the Mackenzie Cundill Emerging Markets Class, subject to investor approval. The change involves a broadening of investment objectives of the existing fund in order to expand beyond its current focus.
A special meeting of fund investors is scheduled for November 19, to consider and vote on the proposed new investment objectives. If approved, the changes to the fund will come into effect on November 20.
“We are proposing the objectives change to increase the investment team’s flexibility, so that they can effectively position the fund to meet the goals of investors in a changing world,” said Elavia.
Pending investor approval of objectives changes, Mackenzie Investments will implement the following:
- Mackenzie Global Emerging Markets Team will assume portfolio management responsibility;
- The fund will be renamed Mackenzie Emerging Markets Opportunities Class; and
- Management fees for certain series of the fund will be reduced.