Mackenzie Financial Corp. is expanding its natural resource mutual fund lineup with the launch of a gold bullion mutual fund.

The company announced on Thursday that the new Mackenzie Universal Gold Bullion Class will invest from 80% to 100% of its assets in gold bullion and/or permitted gold certificates.

The fund may also invest from time to time, directly or indirectly, in silver, platinum, palladium and/or equity securities of companies that produce or supply precious metals.

“Introducing this fund expands what is already one of the strongest natural resource fund lineups in Canada,” said David Feather, president of Mackenzie Financial Services Inc. “Mackenzie Universal Gold Bullion Class is a convenient and secure way for investors to gain exposure to the price appreciation potential, inflation protection and diversification benefits of gold bullion.”

Lead manager for the fund will be Benoit Gervais, vice president of investments at Mackenzie. Gervais is also lead manager of Mackenzie Universal Precious Metals Fund and Mackenzie Universal World Precious Metals Class, and has 10 years of natural resource investment and industry experience.

Gervais will be supported by 25-year resource investment veteran Fred Sturm, executive vice president and chief investment strategist at Mackenzie.

As part of Mackenzie Investment’s Capitalcorp structure, Mackenzie Universal Gold Bullion Class offers investors the ability to switch between the fund and more than 50 other Capitalcorp funds on a tax-deferred basis.

The fund is available in both Canadian and US dollar versions.

IE