China Asset Management Company (ChinaAMC) has teamed up with Mackenzie Investments to launch a global balanced fund targeting investors in Hong Kong.
The ChinaAMC Mackenzie Global Strategic Income fund invests globally in income-oriented equities and fixed income securities.
The company said the new fund will be managed by ChinaAMC (HK) and sub-advised by Mackenzie out of Toronto, Canada.
The fund’s investments will be managed in Canada by Mackenzie’s global equity and income team that is led by Darren McKiernan, as well as the fixed income team that is led by Citywire A-rated Steve Locke.
Both Locke and McKiernan have over two decades of investment experience.
The new launch comes after Mackenzie completed an acquisition of 13.9% interest in China Asset Management last year.
Barry McInerney, president and chief executive officer at Mackenzie Investments, said part of the strategy behind that investment was to work together with ChinaAMC (HK) to develop products and further our sub-advisory relationships.
He said Mackenzie’s partnership with China Asset Management allows the firm to enter the rapidly growing Hong Kong market.
Meanwhile, ChinaAMC also participates in the Canadian market as sub-advisor on some of Mackenzie’s mutual funds and exchange traded funds.