Investment management firm Mackenzie Investments and mutual fund dealer Quadrus Investments have announced a reclassification of the Canadian Investment Funds Standards Committee (CIFSC) category for the Diversified Fixed Income Folio Fund.
The fund has been reclassified from “global fixed income” to “Canadian fixed income.” Along with this reclassification comes a cap of 30% on foreign content in the fund. The fund’s risk rating has also been revised, from “low to medium” to “low.”
The fund is designed to seek higher income and fixed-income diversification using a fund-of-funds structure, a good feature for a fund to have in a challenging fixed-income environment. The firm did not disclose what type of funds would be used in the portfolio.
The new fund may be included in a client’s portfolio in place of a traditional Canadian bond fund.
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