Income manager made a tactical shift

How Mackenzie’s Steve Locke followed risk discipline over fear

Michael Ryval 14 May, 2020 | 1:15AM
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While the COVID-19 pandemic triggered severe volatility in equity and fixed income markets in March and into April, Steve Locke and his fixed income team at Toronto-based Mackenzie Investments were able to take advantage of opportunities and effectively boost the running yield for the 5-star rated $2 billion Mackenzie Strategic Income D, a fund that is designed to generate income from a 50-50 blend of fixed income and equities. The running yield was raised to 4%, before fees, from 3.5%.

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Securities Mentioned in Article

Security NamePriceChange (%)Morningstar Rating
GFL Environmental Inc47.83 CAD0.00
Mackenzie Strategic Income D14.27 CAD-0.02Rating
Manulife Financial Corp24.43 CAD0.00Rating
Quebecor Inc Class B30.75 CAD0.00
Royal Bank of Canada127.90 CAD0.00Rating
The Toronto-Dominion Bank83.26 CAD0.00Rating

About Author

Michael Ryval

Michael Ryval  Michael Ryval, a regular contributor to Morningstar, is a Toronto-based freelance writer who specializes in business and investing.

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