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Monday, November 11, 2019

Mackenzie launches two currency-hedged classes of U.S. funds


Date: Tuesday, March 7, 2006
Author: Advisor.ca

Mackenzie Investments has created new currency hedged versions of the Mackenzie Universal American Growth Capital Class and Mackenzie U.S. Growth Leaders Capital Class funds.

With the new products, investors can hedge any or all of their investment against fluctuations between the Canadian and U.S. dollar and may switch between the two classes without triggering a taxable event.

"Canadian investors have watched our dollar rise strongly against the U.S. currency over the past few years. If they've been invested in unhedged U.S. equities, they may have received a diminished return, even if the stocks have gone up," says David Feather, president of Mackenzie Financial Services. "These new currency-hedged funds give investors greater choice and the ability to participate in the growth of U.S. equity markets while maintaining control over their exposure to the U.S. dollar."

Bluewater Investment Management and Waddell & Reed will continue to manage the fund's portfolios, while Mackenzie manages the hedging program. Returns generated from the hedged classes of shares will represent the performance of the fund's portfolio holdings plus the performance of a currency hedge.