Investment groups join forces on management functions

Investment groups join forces on management functions

Investment groups join forces on management functions IGM Financial announced the merger of the management functions of Winnipeg-based Investors Group and Toronto-based Mackenzie Investments.

The organization will be joined under Mackenzie Investments, maintaining its multi-boutique and asset class structure. The new entity will also continue to offer diverse products for Investors Group’s Consultants, Mackenzie’s distribution channels and the clients the two firms serve.

With the merger of the management function, Investors Group and Mackenzie Investments will proceed to maintain differentiated fund shelves and brands. Additionally, the Investors Group will still offer products using a combination of in-house portfolio management expertise.

Leading the merged team is Mackenzie Investments executive vice president and CIO Tony Elavia. His counterpart at Investors Group Jeff Singer will join him together on the project until Singer retires at the end of the year.

The team will fortify its North American presence in Toronto, Montreal and Winnipeg as well as its international presence in Dublin and Hong Kong.

Investors Group and IGM Financial president and CEO Jeff Carney said the team's geographic base has been beneficial in the management of the companies’ North American, European and Asian funds.

“This new structure will enable us to offer our best capabilities to all clients, and give us the scale to meet the opportunities of the future," he said.

He noted that the two group's good working relationship in sharing services will be able to benefit the merged organization.

"This is about building on our position as an industry leader to deliver even better investment performance and provide a broader set of solutions to meet the changing needs of our retail and institutional clients and our advisors," he said.

For more of Wealth Professional's latest industry news, click here.


Related stories:
Can industry leaders reach an agreement on fees?
Financial firms come together for new fund
 

More market talk: