Mackenzie Investments today introduced the Mackenzie Multi-Strategy Absolute Return Fund. The company says that with this new offering, it is “the first to bring the innovation of an absolute return fund to Canadian retail investors, based on the regulators' alternative framework proposal for conventional mutual funds.”
The new fund aims to deliver a positive total return over a market cycle, regardless of the ups and downs, says Mackenzie.
"Absolute return mutual funds challenge the conventional approach to investing, and Mackenzie is proud to be the first to bring this non-traditional solution to Canadian retail investors," said Michael Schnitman, Senior Vice-President, Product at Mackenzie Investments. "The new fund has the added benefits of being transparent, highly liquid and closely regulated under National Instrument 81-102."
The company says that until now, most alternative investments in the Canadian market were limited to high net worth and institutional investors through select advisors.
"As we've seen in the United States, absolute return strategies have demonstrated strong growth to become an important part of diversified asset allocation, thanks to their mass appeal for investors seeking to limit volatility and anyone looking to complement their portfolio with an innovative strategy," says Schnitman. "It's time for Canadians to experience those same benefits and Mackenzie is excited to be at the forefront of this next chapter in our mutual fund industry.