After 32 years as a portfolio manager with Toronto-based Mackenzie Financial Corp., Fred Sturm will be hanging up his spurs when he retires on Aug. 31.

Sturm is head of Mackenzie’s resource team, and responsible for a stable of funds that includes Mackenzie Universal Canadian Resource Fund, Mackenzie Universal Gold Bullion Class, Mackenzie Universal Precious Metals Fund, Mackenzie Universal World Precious Metals Class and Mackenzie Universal World Resource Class.

“It’s something I have considered for a while,” Sturm says of his decision. “I’ve been thinking of the day when I can spend more time with my family. Now it’s going to happen and I’m really looking forward to it.”

He has been the recipient of several awards during his career, including the Analysts’ Choice Fund Manager of the Year at the 2004 Morningstar Canadian Investment Awards.

Sturm’s role as leader of the resource team will be filled by Benoit Gervais, vice president, investments, who has worked with Sturm for the past 12 years and been a co-manager with him on Mackenzie’s resource and precious metals funds.

Prior to joining Mackenzie, Benoit gained experience in the resource industry working for organizations such as Inco Ltd. and Fording Inc., as well as British-based Imperial Chemical Industries PLC the International Institute for Environment and Development in London, England.

He completed a master in mineral economics at Colorado School of Mines and also holds a Bachelor of Engineering from Montreal-based École Polytechnique and McGill University.

Although resource-related investments have lagged recently, Sturm is optimistic about the longer-term potential.

“Recent global economic activity has been relatively sluggish, which has suppressed the resources sector,” he says. “But I’ve always maintained that over time the value of money will deteriorate and it’s good to have exposure to wealth-creating assets, including resources companies. While it’s challenging now in the sector, Benoit and I believe in the long-term merits of natural resources as part of a balanced portfolio approach.”