Toronto-based Mackenzie Financial Corp. has launched three alternative mutual funds (known as liquid alts), the company said Tuesday.

The funds include:

  • Mackenzie Credit Absolute Return Fund, which aims to deliver a positive total return over a rolling five-year period by investing in fixed income securities;
  • Mackenzie Global Macro Fund, which seeks strong and diversified returns by taking long and short positions in equity, fixed income, commodities and/or currencies;
  • and Mackenzie Global Long/Short Equity Alpha Fund, which takes long and short positions in equity securities of global companies.

Liquid alternative investments are new tools for Canadian retail investors after regulatory changes came into effect in January.

Michael Schnitman, senior vice-president, product at Mackenzie Investments, said in a statement that liquid alts’ diversification and lower correlation to the markets provide investors “with improved portfolio stability with less reliance on market direction.”