The Invested

In this episode, Movin Mokbel, VP and Portfolio Manager on the Mackenzie Fixed Income Team, explores the growing investor appeal of floating rate loans. He highlights their ability to eliminate interest rate risk and unpacks common misconceptions about Collateralized Loan Obligations (CLOs). Movin explains the regulation, liquidity, and diverse risk-reward characteristics of CLOs and how floating...

In this episode, Hussein Sunderji , Portfolio Manager of the Mackenzie Ivy Foreign Equity Fund, discusses the Ivy Team's unique investing philosophy. Focusing on high-quality companies, maintaining a long-term perspective, and adhering to strict valuation disciplines, Hussein explains how the team has navigated the volatile markets of the past two years. Hussein notes that market volatility can cr...

In this episode, Dustin Reid , Chief Strategist for Fixed Income, discusses the ongoing volatile macro economic landscape in North America and Europe. Dustin explains how the market is perceiving the impact of both Canadian and US inflation data, and what the likely implications are for Bank of Canada and Fed policy. Dustin also speaks to how the Trump administration is viewing tariffs and where c...

In this episode, Lesley Marks , Chief Investment Officer of Equities, unpacks the potential long-term impacts of President Trump's tariffs on aluminum and steel imports. While the market response has been muted, Lesley cautions that these tariffs could lead to increased costs and chaos, particularly in the automotive industry. Lesley also explores the recent strength of the Canadian dollar, explai...

In today’s unpredictable environment, understanding and managing market fluctuations is crucial for advisors and investors. In this episode, Haijie Chen , Portfolio Manager on Mackenzie’s Global Quantitative Equity Team discusses the current state of market volatility, key drivers behind it, and how quantitative investing can address these challenges. Haijie also breaks down the construction of Ma...

In this episode, Dustin Reid , Chief Fixed Income Strategist at Mackenzie Investments, discusses the recent decisions by the Bank of Canada and Federal Reserve, exploring their future actions amid current economic conditions and looming tariff deadlines. Dustin also examines developments in equity markets, particularly the impact of the new Chinese AI model, DeepSeek, and its implications for tech...

In his first week in office, President Trump declared a national energy emergency, sparking debates about the acceleration of permitting for oil, gas, and power projects. In this episode, Benoit Gervais and Onno Rutten , Portfolio Managers on Mackenzie’s Resource Team, discuss President Trump’s latest executive orders and their implications for the resource sector. Benoit and Onno explore the them...

In this episode, Dustin Reid , Chief Fixed Income Strategist, explores the potential implementation of tariffs under the new Trump administration and its implications for cross-asset markets. He discusses the role of the External Revenue Service and Canada's political and economic landscape. Dustin highlights key topics such as market pricing and expectations, deregulation, tax cuts, immigration p...

What are fixed income markets expect from a second Trump presidency? And where might investors find opportunities? In this episode, Konstantin Boehmer , Head of Mackenzie’s Fixed Income Team, discusses the Bank of Canada’s approach and the Canadian economy’s outlook, addressing the threat of tariffs, low productivity, and rising unemployment. Konstantin also shares his insights on the US economic...

With the Canadian ETF market experiencing remarkable growth in 2024, trust and adoption of ETFs have surged among a diverse range of investors. Will this momentum continue into 2025? In this episode, Prerna Mathews , Head of ETFs at Mackenzie Investments, discusses the 2025 ETF Outlook. She delves into the sector’s remarkable growth and innovation highlighting 2024’s record inflows of $76 billion...

In this episode, Dustin Reid , Chief Fixed Income Strategist, discusses the Fed’s recent decision to cut interest rates by 25 basis points and its implications for both the US and Canadian markets. He highlights the Fed’s forecast for core PCE inflation at 2.5% for 2025, which exceeds their 2% target, and discusses how the Fed is now factoring in the potential economic impacts of tariffs—a notable...

The sweeping Republican victory is expected to have potentially significant implications for geopolitical risk and trade flows, and for the outlook of various asset classes and sectors. On this special episode, Lesley Marks , CIO of Equities, and Steve Locke , CIO of Fixed Income and Multi-Asset Strategies, discuss their market outlook for 2025. Topics discussed in their conversation include: How...

Following the Republican electoral sweep, discussions have emerged about the effect the Trump administration may have on the clean energy sector – despite the US accounting for only a small percentage of the industry. On this episode, John Cook , Portfolio Manager and Co-Lead of the Mackenzie Greenchip Team, discusses the current state of the energy transition and clean tech investments, global op...

On this episode, Jules Boudreau , Senior Economist at Mackenzie Investments, discusses the potential impacts of a second Trump administration on US small caps. Jules highlights how US small caps are poised for potential growth, citing cheaper valuations, greater cyclicality, and higher leverage on balance sheets, but emphasizes the necessity of rate cuts and sustained US growth. Additionally, Jule...

In this episode, Adam Gofton , Portfolio Manager on the Mackenzie Ivy Team, discusses the team’s investment philosophy and approach to long-term investing. Adam emphasizes the importance of finding quality companies at reasonable prices and highlights how corporate culture, economic resilience, and a strong balance sheet are key factors to long-term success. He also explains why the outcome of the...

In this episode, Dustin Reid , Chief Fixed Income Strategist provides a comprehensive analysis of the potential economic and market impacts of President-elect Trump’s return to the White House. Dustin explores the implications of Trump’s proposed economic policies on supply chains, inflation, and the global economy, and expected focus on immigration and deregulation. Dustin also discusses the Fed’...

In this episode, Dustin Reid , Chief Fixed Income Strategist, discusses the Bank of Canada’s decision to lower interest rates by 50 basis points and what investors may expect in the coming months. In China, recent stimulus measures have sparked both optimism and skepticism in the markets. Dustin provides his insights and the potential impacts on the global economy. Lastly, Dustin provides an updat...

Are active ETFs really just ‘lite’ versions of mutual funds? In this episode, Prerna Mathews , VP of ETF Product Strategy, and Chad Wood , ETF Strategist at Mackenzie Investments, debunk this and other common ETF myths and misconceptions. Their conversation also explores how ETFs are built, what can be included in them, and how they are brought to market. Further reading: - Your step-by-step guide...

In this episode, Shah Khan, Portfolio Manager and Co-Lead of Mackenzie Bluewater Team, discusses the team’s unique approach to investing emphasizing the importance of free cash flow as a key driver of growth. Shah also shares his insights on the current AI infrastructure build-out, the structural challenges facing China and its potential implications for the Canadian equity market, and how the ene...

Investors widely expected a rate cut from the Fed, but the bold decision to lower interest rates by 50 basis points took many by surprise. In this episode, Dustin Reid , Chief Fixed Income Strategist, delves into the Fed’s first rate cut decision since 2020, its future outlook, and how it could affect other central banks worldwide. Dustin also examines recent Canadian inflation data, highlighting...

In times of heightened market uncertainty, low volatility ETFs have increased in popularity. But can they help advisors manage risk without sacrificing their clients’ equity exposure? In this episode, Prerna Mathews , VP of ETF Product Strategy, and Nicholas Tham , Portfolio Manager on Mackenzie’s Global Quantitative Equity Team, explore the concept of low volatility ETFs, their performance, and c...

In this episode, Benoit Gervais , Portfolio Manager and Head of Mackenzie Resource Team, discusses the current state of the resource sector and provides his short and long-term outlook and trends on the commodity complex. Benoit shares his advice on managing exposure to the resource sector within a Canadian equity allocation, highlighting the importance of diversification and potential for alpha g...

In this episode, Lesley Marks , Chief Investment Officer of Equities, discusses the latest US non-farm payroll report, unpacking its mixed results and the implications for the Fed’s upcoming moves. Lesley also examines the Bank of Canada’s recent 25 basis point cut, exploring how it fits within the broader Canadian economic landscape. Lastly, Lesley previews the upcoming US presidential debate, of...

On this episode, Dustin Reid , Chief Fixed Income Strategist, analyzes the latest US CPI and PPI data, shedding light on the current state of inflation and its potential impact on the Fed’s decisions for the remainder of the year. Dustin shares his insights on the recent surge in market volatility, examining both technical factors and fundamental concerns. Additionally, Dustin discusses the Bank o...

On this episode, Prerna Mathews , VP of ETF Product Strategy, and Luc Lafleur , AVP of Portfolio Construction at Mackenzie Investments, share their insights on how advisors can optimize portfolio construction with ETFs and how ETFs can contribute to running efficient advisory practices. Prerna and Luc explore the impact of global economic drivers on portfolio strategies and the importance of align...