Mackenzie Bluewater Team
Prudent capital allocation. Focused on creating value for shareholders over the long haul.
Philosophy and process
The Mackenzie Bluewater Team invests in companies globally as if we are the owners of the businesses, not as traders buying and selling pieces of paper. We get to know the management and understand the products and services of the companies in which we invest. We believe that what makes a company valuable is the ability to generate free cash flow; that is, the excess cash a company generates beyond what it needs to run its business. Strong management fosters the culture and intellectual capital required to create a valuable stream of free cash flow, so we invest in managers that are focused on creating value for shareholders over the long term. It is not enough to find high-quality companies. The price paid for an investment is extremely important and we will only buy a business when it is trading at a discount to our assessment of fair value.
David Arpin, MA, CFA
Investment experience since 1995
David Arpin, Senior Vice President, is a Portfolio Manager and Team Co-Lead with the Mackenzie Bluewater Team.
David joined Bluewater Investment Management Inc. in 2012 and has been a Portfolio Manager on the Team since then. Bluewater acted as a subadvisor to Mackenzie until 2016, when the Team became one of Mackenzie’s investment boutiques. David began his career in the investment industry in 1995 as an Investment Researcher for a pension consulting firm. In 1998, he moved to investment management, working at an insurance company as an Equity Analyst and Trader. In 2000, David joined a large investment management firm where he worked as a Portfolio Manager.
David has BA (Hons.) and MA (Economics) degrees from Queen’s University. He is also a CFA charterholder.
Dina DeGeer, MBA, CFA
Investment experience since 1985
Dina DeGeer, Senior Vice President, Investment Management, is Team Co-Lead of the Mackenzie Bluewater Team.
Dina joined Bluewater Investment Management Inc. in 1995 and has been the lead Portfolio Manager on Mackenzie Canadian Growth Fund since then. Bluewater acted as a subadvisor to Mackenzie until 2016, when the Team became one of Mackenzie’s investment boutiques. Dina began her investment career at a large insurance company, directing U.S. equity portfolios. In 1989, she joined a large Canadian mutual fund company as a Portfolio Manager, and was primarily responsible for U.S. and Canadian investments.
Dina has a BComm from McMaster University and an MBA from the University of Windsor. She is also a CFA charterholder.
Shah Khan, MBA, CFA
Investment experience since 2010
Shah Khan, Vice President, Investment Management, is a Portfolio Manager on the Mackenzie Bluewater Team.
Shah joined Bluewater Investment Management Inc. in 2010 and has worked with the portfolio management team since then. Bluewater acted as a subadvisor to Mackenzie until 2016, when the Team became one of Mackenzie’s investment boutiques.
Shah has a BSc (Biochemistry/Biomedical Sciences) and an MBA from McMaster University. He is also a CFA charterholder.
Hui Wang, MBA, CFA, CAIA
Investment experience since 2010
Hui Wang is an Associate Portfolio Manager on the Mackenzie Bluewater Team.
Prior to joining Mackenzie Investments in 2016, Hui worked for a leading global asset management firm as an investment analyst supporting international and global core equity mandates. From 2010 to 2012, he worked with that firm’s Global Wealth Distribution operation. In addition, Hui spent eight years in the technology industry, including roles in mergers and acquisitions, product development, sales/marketing and software engineering.
Hui has a Bachelor of Computer Science degree from the Beijing Information Technology Institute and a Master’s degree from Peking University. He earned an MBA from the Schulich School of Business at York University (Honours) and also has the Chartered Alternative Investment Analyst (CAIA) designation and is a CFA charterholder.
Awards and rankings
The highest ratings given by the independent investment research firm Morningstar
- Team Profile - Mackenzie Bluewater Team PDF 308kb
Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. The indicated rates of return are the historical annual compounded total returns including changes in unit value and reinvestment of all distributions and do not take into account sales, redemption, distribution or optional charges or income taxes payable by any security holder that would have reduced returns. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated.
Morningstar Star Ratings reflect performance of Series F as of October 30, 2019 and are subject to change monthly. The ratings are an objective, quantitative measure of a fund’s historical risk-adjusted performance relative to other funds in its category. Only funds with at least a three-year track record are considered. The overall star rating for a fund is a weighted combination calculated from a fund’s 3, 5, and 10-year returns, as available, measured against the 91-day Treasury bill and peer group returns. A fund can only be rated if there are a sufficient number of funds in its peer group to allow comparison for at least three years. If a fund scores in the top 10% of its fund category, it gets 5 stars; if it falls in the next 22.5%, it receives 4 stars; a place in the middle 35% earns a fund 3 stars; those in the next 22.5% receive 2 stars; and the lowest 10% receive 1 star. For more details on the calculation of Morningstar Star Ratings, see morningstar.ca. Quartile rankings and peers beaten are calculated by Mackenzie Investments based on the fund series-level data Morningstar provides.
The CIFSC categories, Star Ratings and number of funds in each category for the standard periods are: Mackenzie Canadian Growth Balanced Fund Series F, Canadian Equity Balanced category: 3 years - 5 stars (412 funds), 5 years - 5 stars (319 funds), 10 years - 5 stars (175 funds). Mackenzie Canadian Growth Fund Series F, Canadian Equity Focused category: 3 years - 5 stars (604 funds), 5 years - 5 stars (466 funds), 10 years - 5 stars (219 funds).
The Lipper Fund Awards, granted annually, highlight funds and fund companies that have excelled in delivering consistently strong risk-adjusted performance relative to their peers. The Lipper Fund Awards are based on the Lipper Leader for Consistent Return rating, which is a risk-adjusted performance measure calculated over 36, 60 and 120 months. The fund with the highest Lipper Leader for Consistent Return (Effective Return) value in each eligible classification wins the Lipper Fund Award. For more information, see lipperfundawards.com. Although Lipper makes reasonable efforts to ensure the accuracy and reliability of the data contained herein, the accuracy is not guaranteed by Lipper.
Mackenzie Canadian Growth Balanced Fund (Series A) was awarded the 2019 Lipper Fund Awards from Refinitiv Trophy for best three-year performance in the Canadian Equity Balanced category for the period ended July 31, 2019, out of a total of 53 funds and the 2019 Lipper Fund Awards from Refinitiv Certificate for best five-year performance in the Canadian Equity Balanced category for the period ended July 31, 2019, out of a total of 48 funds. Performance for the fund for the period ended September 30, 2019 is as follows: 6.0% (1 year), 7.4% (3 years), 8.8% (5 years), 7.8% (10 years) and 6.8% (since inception) in November 1996.
FundGrade A+ is used with permission from Fundata Canada Inc., all rights reserved. The annual FundGrade A+® Awards are presented by Fundata Canada Inc. to recognize the "best of the best" among Canadian investment funds. The FundGrade A+® calculation is supplemental to the monthly FundGrade ratings and is calculated at the end of each calendar year. The FundGrade rating system evaluates funds based on their risk-adjusted performance, measured by Sharpe Ratio, Sortino Ratio, and Information Ratio. The score for each ratio is calculated individually, covering all time periods from 2 to 10 years. The scores are then weighted equally in calculating a monthly FundGrade. The top 10% of funds earn an A Grade; the next 20% of funds earn a B Grade; the next 40% of funds earn a C Grade; the next 20% of funds receive a D Grade; and the lowest 10% of funds receive an E Grade. To be eligible, a fund must have received a FundGrade rating every month in the previous year. The FundGrade A+® uses a GPA-style calculation, where each monthly FundGrade from "A" to "E" receives a score from 4 to 0, respectively. A fund's average score for the year determines its GPA. Any fund with a GPA of 3.5 or greater is awarded a FundGrade A+® Award.
· Mackenzie Canadian Growth Balanced Fund Series A, Canadian Equity Balanced category: 1 year - (471 funds) -2.1%, 3 years - (378 funds) 4.7%, 5 years - (310 funds) 8.2%, 10 years - (161 funds) 7.1%, since inception - 6.4% (November 28, 1996)
· Mackenzie Canadian Growth Fund Series A, Canadian Focused Equity category: 1 year - (707 funds) -2.6%, 3 years - (582 funds) 6.7%, 5 years - (459 funds) 11.1%, 10 years - (217 funds) 9.8%, since inception - 9.6% (January 30, 1976)
For more information, see http://www.fundgradeawards.com/. Although Fundata makes every effort to ensure the accuracy and reliability of the data contained herein, the accuracy is not guaranteed by Fundata.