Mackenzie Multi-Asset Strategies Team

Delivering portfolio outcomes with
next generation thinking

Our insights

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Our team

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Our funds & awards

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We build modern portfolios designed to deliver on specific investment objectives, whatever the future may bring.

Purpose driven

We design multi-asset solutions that combine traditional and alternative asset classes and strategies to meet distinct objectives. If we can’t source one piece of the puzzle through Mackenzie’s boutiques or global partners, we build and manage it ourselves.

Diverse expertise

Drawing on diverse perspectives, experience and knowledge, our Team combines pension-style best practices with original thinking and proprietary techniques. With multi-disciplinary expertise in economics, finance, asset management, statistics, and computer science, we create innovative solutions.

Thriving in uncertainty

We help clients and investors thrive, even in unpredictable markets, by using a proprietary process to systemize risk while seeking strong potential returns. We understand risk and we respect it. Our Team takes small wins and adds them up over time versus taking big bets.

Our insights

Insight PDf

Portfolio Manager Monthly Insight: April

Equity overweight: We expect global stock markets to deliver a lower return than in recent years as central banks tighten global liquidity and growth slows in corporate earnings.

Insight

Updates from our Chief Economist

May updates: What’s holding back the Canadian dollar?

Podcast

Todd Mattina on Modern Monetary Theory

Todd Mattina, Chief Economist, joins the Mackenzie Podcast to share his view on Modern Monetary Theory and what challenges may be associated with it.

Meet our team

Nelson Arruda, MFin., MSc., CFA

Senior Vice President, Portfolio Manager, Team Co-Lead
Mackenzie Multi-Asset Strategies Team

"If we can’t source one piece of the puzzle, we build it.”

Joined Mackenzie in 2017

  • Co-leads 20 professionals managing $48 billion of multi-asset, equity and alternative investment portfolios, overseeing investment research and portfolio management.
  • Has 12+ years of experience in investment research and portfolio management of multi-asset strategies, including equities, foreign exchange, sovereign debt and commodities.
  • Was head portfolio manager of the active commodities portfolio at CPP Investment Board, covering energy, agriculture and metals.

Todd Mattina, Ph.D.

Senior Vice President, Chief Economist , Portfolio Manager, Team Co-Lead
Mackenzie Multi-Asset Strategies Team

"We take small wins and add them up over time versus taking big bets.”

Joined Mackenzie in 2014

  • Co-leads 20 professionals managing $48 billion of multi-asset, equity and alternative investment portfolios, and assesses macroeconomic impacts on investments.
  • Former VP of portfolio construction, chief strategist, and chief economist at IMCO, which manages public sector funds, including Ontario Pension Board and Workplace Safety and Insurance Board.
  • Industry experience includes roles at the International Monetary Fund (economist) and CPP Investment Board (portfolio manager).

Andrea Hallett, CFA

Vice President, Portfolio Manager
Mackenzie Multi-Asset Strategies Team

Joined Mackenzie in 2002

  • Co-manager for Mackenzie Investments' multi-managed funds and strategic asset allocation programs.
  • Has 15+ years of experience in the design, analysis and management of multi-asset portfolios in the Canadian institutional and retail mutual fund spaces.

Paul Taylor, MBA, CFA

Vice President, Portfolio Manager
Mackenzie Multi-Asset Strategies Team

Joined Mackenzie in 2019

  • Significant investment experience in multi-asset allocation and Canadian equity management, as well as manager evaluation, selection and oversight.
  • Served as Chief Investment Officer at a major Canadian bank, leading a large team of investment professionals and responsible for tactical asset allocation decisions.

Matthew Cardillo, CFA

Vice President, Portfolio Manager
Mackenzie Multi-Asset Strategies Team

Joined Mackenzie in 2012

  • Manages investment products for the team, conducts investment research and oversees equity risk management.
  • Was senior portfolio manager at a leading global investment firm, managing complex strategies in the U.S., Canadian and global markets.

Lawrence (Larry) Llaguno, MBA, MSc, CFA, CAIA

Vice President, Portfolio Manager
Mackenzie Multi-Asset Strategies Team

Joined Mackenzie in 2017

  • Conducts investment research, oversees equity risk management and manages investment products for the team.
  • Industry experience includes 10+ years at CPP Investment Board (associate portfolio manager) and Ontario Teachers’ Pension Plan (investment analyst).

Michael Kapler, MMF, CFA

Portfolio Manager
Mackenzie Multi-Asset Strategies Team

Joined Mackenzie in 2016

  • Uses expertise in quant equity portfolio construction to manage factor-based equity pools for the team. Also manages options-based strategies for various funds.
  • Industry background includes equity factor investing, alternative strategies, asset allocation and risk management.

Gleb Sivitsky, MFE, CFA, CAIA

Portfolio Manager
Mackenzie Multi-Asset Strategies Team

Joined Mackenzie in 2014

  • Primary responsibilities include macroeconomic alpha research, asset allocation and portfolio construction.
  • Academic credentials include a Master of Financial Economics degree and both the CFA and CAIA designations.

Awards and rankings

Winner of the 2021 Fundata FundGrade A+ Awards® for consistent and outstanding risk-adjusted performance in their respective categories

The highest ratings given by the independent investment research firm Morningstar

Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated.

The content of this web page (including facts, views, opinions, recommendations, descriptions of or references to, products or securities) is not to be used or construed as investment advice, as an offer to sell or the solicitation of an offer to buy, or an endorsement, recommendation or sponsorship of any entity or security cited. Although we endeavour to ensure its accuracy and completeness, we assume no responsibility for any reliance upon it.

Morningstar Star Ratings reflect performance of Series F as of January 31, 2022 and are subject to change monthly. The ratings are an objective, quantitative measure of a fund’s historical risk-adjusted performance relative to other funds in its category. Only funds with at least a three-year track record are considered. The overall star rating for a fund is a weighted combination calculated from a fund’s 3, 5, and 10-year returns, as available, measured against the 91-day treasury bill and peer group returns. A fund can only be rated if there are a sufficient number of funds in its peer group to allow comparison for at least three years. If a fund scores in the top 10% of its fund category, it gets 5 stars; if it falls in the next 22.5%, it receives 4 stars; a place in the middle 35% earns a fund 3 stars; those in the next 22.5% receive 2 stars; and the lowest 10% receive 1 star. For more details on the calculation of Morningstar Star Ratings, see www.morningstar.ca.

Mackenzie Conservative Income ETF Portfolio F, Global Fixed Income Balanced Category: 3 years - 4 stars (633 funds), 5 years - n/a stars (n/a funds), 10 years - n/a stars (n/a funds). Mackenzie Conservative ETF Portfolio F, Global Fixed Income Balanced Category: 3 years - 5 stars (633 funds), 5 years - n/a stars (n/a funds), 10 years - n/a stars (n/a funds). Mackenzie Global Growth Balanced Fund F, Global Equity Balanced Category: 3 years - 4 stars (1049 funds), 5 years - n/a stars (n/a funds), 10 years - n/a stars (n/a funds). Mackenzie Growth ETF Portfolio F, Global Equity Balanced Category: 3 years - 4 stars (1049 funds), 5 years - n/a stars (n/a funds), 10 years - n/a stars (n/a funds). Mackenzie Moderate Growth ETF Portfolio F, Global Neutral Balanced Category: 3 years - 4 stars (1289 funds), 5 years - n/a stars (n/a funds), 10 years - n/a stars (n/a funds). Mackenzie Monthly Income Conservative Portfolio F, Global Fixed Income Balanced Category: 3 years - 4 stars (633 funds), 5 years - 4 stars (458 funds), 10 years - n/a stars (n/a funds). Mackenzie Private Global Conservative Income Balanced Pool PWF, Global Fixed Income Balanced Category: 3 years - 5 stars (633 funds), 5 years - 4 stars (458 funds), 10 years - n/a stars (n/a funds). 

FundGrade A+® is used with permission from Fundata Canada Inc., all rights reserved. The annual FundGrade A+® Awards are presented by Fundata Canada Inc. to recognize the “best of the best” among Canadian investment funds. The FundGrade A+® calculation is supplemental to the monthly FundGrade ratings and is calculated at the end of each calendar year. The FundGrade rating system evaluates funds based on their risk-adjusted performance, measured by Sharpe Ratio, Sortino Ratio, and Information Ratio. The score for each ratio is calculated individually, covering all time periods from 2 to 10 years. The scores are then weighted equally in calculating a monthly FundGrade. The top 10% of funds earn an A Grade; the next 20% of funds earn a B Grade; the next 40% of funds earn a C Grade; the next 20% of funds receive a D Grade; and the lowest 10% of funds receive an E Grade. To be eligible, a fund must have received a FundGrade rating every month in the previous year. The FundGrade A+® uses a GPA-style calculation, where each monthly FundGrade from “A” to “E” receives a score from 4 to 0, respectively. A fund’s average score for the year determines its GPA. Any fund with a GPA of 3.5 or greater is awarded a FundGrade A+® Award. For more information, see www.FundGradeAwards.com. Although Fundata makes every effort to ensure the accuracy and reliability of the data contained herein, the accuracy is not guaranteed by Fundata.

Mackenzie Global Growth Balanced Fund Series A was recognized for outstanding fund performance at the 2021 Fundata FundGrade A+ Awards in the Global Equity Balanced category out of a total of 722 funds. Performance for the fund for the period ended December 31, 2021 is as follows: 13.7% (1 year) and 13.9% (since inception- January 2019).