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Mackenzie Investments Announces Name, Risk Rating and Investment Strategy Changes for Select Mutual Funds – Canada NewsWire

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TORONTO, Sept. 22, 2021 /CNW/ – Mackenzie Investments (“Mackenzie”) today announced changes to the names, risk ratings and investment strategy for the following mutual funds effective on or about September 29, 2021.

Name Changes
Name changes are being made to the following mutual funds to better align with their core principles and investment objectives and to make them more relatable to all investors.

The proposed changes are as follows:

Current Name

New Name

Mackenzie All China Equity Fund

Mackenzie ChinaAMC All China Equity Fund

Mackenzie Global Environmental Equity Fund

Mackenzie Greenchip Global Environmental All
Cap Fund

Mackenzie Greenchip Global Balanced Fund

Mackenzie Greenchip Global Environmental
Balanced Fund

Mackenzie Global Sustainability and Impact
Balanced Fund

Mackenzie Global Sustainable Balanced Fund

Risk Rating Change
Mackenzie reviews risk ratings and makes adjustments in accordance with the Risk Classification Methodology mandated by the Canadian Securities Regulators. The risk rating of the following Fund will change as outlined below. There are no changes to the investment strategy of this mutual fund.

Fund Name

Current Risk Rating

New Risk Rating

Mackenzie US Mid Cap Opportunities
Currency Neutral Fund

Medium

Medium to High

Investment Strategy Changes
A change is being made to the investment strategy of Mackenzie Greenchip Global Environmental All Cap Fund (previously Mackenzie Global Environmental Equity Fund – see above) in order to remove constraints in the number of securities the portfolio can hold at any given time.

The following change has been made in the Fund’s prospectus:

Previous description

New description

The Fund will generally maintain a concentrated
portfolio of 30-35 companies whose revenues are
generated selling environmentally superior products and service.

The Fund will generally maintain a portfolio of
companies of any market capitalization, whose
revenues are generated selling environmentally
superior products and services.

About Mackenzie Investments
Mackenzie Investments is a leading investment management firm with $208 billion in assets under management as of August 31, 2021. Mackenzie provides investment solutions and related services to more than one million retail and institutional clients through multiple distribution channels. Founded in 1967, Mackenzie is a global asset manager with offices across Canada as well as in Boston, Dublin, London, Hong Kong and Beijing. Mackenzie is a member of IGM Financial Inc. (TSX: IGM), one of Canada’s premier financial services companies. For more information, visit mackenzieinvestments.com.

SOURCE Mackenzie Investments

For further information: please contact: Nini Krishnappa, IGM Financial, 647-828-2553, [email protected]

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Bitcoin hovers near 6-month high on ETF hopes, inflation worries

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Bitcoin hovered near a six-month high early on Monday on hopes that U.S. regulators would soon allow cryptocurrency exchange-traded funds (ETF) to trade, while global inflation worries also provided some support.

Bitcoin last stood at $62,359, near Friday’s six-month high of $62,944 and not far from its all-time high of $64,895 hit in April.

The U.S. Securities and Exchange Commission (SEC) is set to allow the first American bitcoin futures ETF to begin trading this week, Bloomberg News reported on Thursday, a move likely to lead to wider investment in digital assets.

Cryptocurrency players expect the approval of the first U.S. bitcoin ETF to trigger an influx of money from institutional players who cannot invest in digital coins at the moment.

Rising inflation worries also increased appetite for bitcoin, which is in limited supply, in contrast to the ample amount of currencies issued by central banks in recent years as monetary authorities printed money to stimulate their economies.

But some analysts noted that, after the recent rally, investors may sell bitcoin on the ETF news.

“The news of a suite of futures-tracking ETFs is not new to those following the space closely, and to many this is a step forward but not the game-changer that some are sensing,” said Chris Weston, head of research at Pepperstone in Melbourne, Australia.

“We’ve been excited by a spot ETF before, and this may need more work on the regulation front.”

 

(Reporting by Hideyuki Sano in Tokyo and Tom Westbrook in Singapore; Editing by Ana Nicolaci da Costa)

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These are the only times it's smart to make changes to your investment portfolio – CNBC

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Select’s editorial team works independently to review financial products and write articles we think our readers will find useful. We may receive a commission when you click on links for products from our affiliate partners.

Recent market volatility has many investors wondering if now is a good time to alter their investments.

The short answer experts generally advise? It’s rarely actually a good time to make changes to your investment portfolio.

“Most investors who jump in and tweak their portfolios typically do it in response to market conditions and history has shown us this just doesn’t work out in their favor,” says Tony Molina, a CPA and senior product specialist at Wealthfront. “What often feels right when it comes to investing, is usually wrong.”

Though you may feel tempted to modify your investments when the market dips, you’re often better off leaving them alone for the long haul. The reality is, downturns happen but your money is safer if you ride out the storm. Just as quickly as the market can go down, it can also go up — and keeping your cash invested throughout these fluctuations is what helps your money grow over time. This is especially true when investing in index funds and ETFs.

But, we wondered, is there ever a good time to adjust your investments? Turns out, there are a couple conditions when it’s OK.

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When it’s a good time to make changes to your investment portfolio

While it’s typically best to leave your investments alone, you may want to change course if there has been a change in your investing goals’ time horizons, and consequently, your risk tolerance, advises Ivory Johnson, a CFP and founder of Delancey Wealth Management.

On one hand, you may find that you have extended the number of years until retirement and can take on more risk. Or, on the other hand, perhaps you’re retiring sooner than you thought and shortening that timeframe means that you need to put your money in lower-risk investments.

Using a robo-advisor is an effective workaround to avoid having to worry whether your investments match your risk tolerance. Robo-advisors have users fill out a brief questionnaire that helps them know how to best allocate your cash depending on your investment goals and the top robo-advisors will regularly rebalance your portfolio for you as needed.

Betterment, for example, will recommend a stock-and-bond allocation based on your goals and adjust automatically whenever you make a deposit, withdraw funds or change your target allocation. Betterment’s algorithms will also check your portfolio drift (how far you are from your target allocation) once per day and rebalance if necessary.

Betterment

On Betterment’s secure site

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  • Fees

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  • Bonus

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  • Investment vehicles

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Terms apply.

The automated investing platform through SoFi Invest® automatically rebalances investors’ portfolios as well, but on a quarterly basis. SoFi is a good option for investors also looking for lending products as SoFi members receive a 0.125% interest rate discount on SoFi’s student loan refinancing and personal loans.

Johnson adds that he would generally change an investment allocation when a big event has taken place, such as a severe illness or a large economic windfall (like an inheritance). In both of these cases, an investor’s need for capital appreciation reduces, he says.

Molina agrees that a good time for investors to make changes to their portfolios would be in response to major life events. Specifically, he means events that put the investor in a position where they would need to access their investments in the near future (three or so years). Examples include marriage, a family emergency or as an investor nears retirement.

“This would be a good reason to reduce their investment risk or pull out their funds altogether,” Molina says.

Much of an investor’s decision to change their portfolio in this scenario depends on how soon they may need to withdraw their funds. “In general, if you need the funds within the next three years or less, you may want to consider changing your investment strategy,” Molina adds.

When it comes to investing in individual stocks, keep in mind that you should be using money that you are comfortable having tied up for at least the next five years. While individual stock investors are advised to hold for the long term (especially during times of volatility) in order to best maximize their returns, they may choose to sell a losing stock if it is more risk than they can handle and it generates significant financial loss. Investing in index funds and ETFs are an easy way to take on less risk and diversify your investments.

Bottom line

If you’re thinking of adjusting your investments, most of the time it’s probably not the best move for your long-term growth in the market.

The exceptions to this rule are if your time horizon and risk tolerance suddenly change. Another exception is if there has been a major life event where you no longer need your money to be invested, or where you could be better off financially with the cash accessible in your wallet.

Catch up on Select’s in-depth coverage of personal financetech and toolswellness and more, and follow us on FacebookInstagram and Twitter to stay up to date.

Editorial Note: Opinions, analyses, reviews or recommendations expressed in this article are those of the Select editorial staff’s alone, and have not been reviewed, approved or otherwise endorsed by any third party.

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Cushman Investment in WeWork Rests on Successful Stock Listing – BNN

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(Bloomberg) — Cushman & Wakefield Plc agreed to invest $150 million in WeWork Cos., contingent on the flexible work company successfully completing its forthcoming stock listing, a person familiar with the matter said. 

The investment was born of a partnership the two companies unveiled Aug. 9. They said at the time that they were discussing a potential investment but hadn’t signed a definitive agreement.

A spokesman for Cushman said the company was pleased with the progress of the WeWork partnership but declined to comment on the investment. A spokesperson for WeWork also declined to comment on the investment. WeWork is preparing to go public via a $9 billion blank-check merger in late October.

The companies cited the effects of the Covid-19 pandemic as a catalyst for their accord. For many businesses, the return to the office has been a stilted process. Widespread vaccines in the U.S. brought some workers back, but the return stalled, along with vaccination rates, and outbreaks of new variants played a role.

“The partnership we announced with Cushman & Wakefield in August is a testament to WeWork’s long-term value proposition and we remain incredibly excited about the opportunities that lie ahead as we team up with one of the leading real estate firms in the world,” WeWork said in a statement Sunday.

The deal represents a marriage of old real estate and new. Cushman & Wakefied is more than a century old and one of the largest commercial real estate services companies in the world. WeWork is barely a decade old.

©2021 Bloomberg L.P.

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