Mackenzie Investments, a division of Mackenzie Financial Corp. of Toronto, is adding to its collection of in-house investment management boutiques with the creation of the new Canadian Growth boutique now that a team of former fund managers from Toronto-based Bluewater Investment Management Inc. has joined the firm.

Industry veteran Dina DeGeer, along with fund managers David Arpin and Shah Khan, who have 50 years of experience combined, will now hang their hats at Mackenzie, a large supermarket fund firm, instead of the smaller independent firm of Bluewater. Dennis Starritt, the remaining fund manager at Bluewater, will not be joining Mackenzie’s new boutique with his now former colleagues.

“We are always interested in increasing our capabilities when we see the right opportunity and the right people,” says Tony Elavia, executive vice president and chief investment officer with Mackenzie. “This team of Bluewater principals has been known to us a long time. We know and respect them — and they’ve done a good job for us.”

The Lipper Award-winning team has been managing key Mackenzie mandates on a subadvisory basis for more than 20 years, including Mackenzie Canadian Growth Fund, Mackenzie Canadian Growth Balanced Fund, Mackenzie Canadian Concentrated Equity fund and Symmetry Canadian Equity Fund.

DeGreer, Arpin and Khan will continue to manage the more than $1 billion in assets combined in these funds. There are no immediate plans to expand the team’s fund mandates, Elavia says.

“Like any team, we will evaluate the situation as time goes on,” he notes, “but, for now, they will have their hands full with what they are managing.”

DeGeer began her career at Confederation Life Insurance Co. of Toronto in 1985 and left to join Trimark Investment Management Inc. of Toronto in 1989, at which she was part of the team managing Canadian equity funds. She left Trimark in 1995 to join Bluewater.

This is Arpin’s second go around at Mackenzie. He was previously part of the Ivy Group at Mackenzie, which he joined in 2000, contributing to both Canadian and global mandates. He joined Bluewater in 2012. Khan, who has a background at technology and venture capital firms, joined Bluewater in 2010.