By Canada Life | June 16, 2022

The investment manager research (IMR) team oversees the fund managers of Canada Life’s mutual and segregated funds. They monitor, evaluate, and rate the funds and their managers. This helps to ensure the managers and funds on our platform are relevant and competitive so you can feel confident you are providing the right investment solutions to your clients.    

On June 9, 2022, Mackenzie Investments announced that Paul Musson, Senior Vice-President and Head of Mackenzie’s Ivy team, will retire from the investment funds business at the end of March 2023. Musson will remain an active Ivy team member and help ensure a seamless leadership transition. He’ll also continue as a Portfolio Manager on Ivy Foreign, Ivy Global Balanced and Ivy International funds until March. After retirement, Musson will stay on in an advisory role to the Ivy team. Musson joined the Ivy team in February 2000 and became its Team Lead in early 2009. 

Matt Moody will take on the role of Ivy Team Lead starting September 2022. Moody was Musson’s chosen successor and has been co-manager with Musson on many Ivy fund mandates. A key team member of the Ivy team since November 2005, Moody has been part of investment leadership as the Lead Portfolio Manager for the Ivy European Fund, and Co-Lead Portfolio Manager of Ivy Foreign, Ivy International and Ivy Global Balanced Funds. 

Hussein Sunderji will be appointed as Lead Portfolio Manager of the Ivy International Fund. Moody will stay part of the Portfolio Management team on this strategy. James Morrison will remain Lead Portfolio Manager for Ivy Canadian and Ivy Canadian Balanced funds.  

The current Ivy team has eight investment professionals with an average of 16 years of industry experience. Given the depth of the team, Mackenzie doesn’t plan to replace Musson. The current management team will remain in place. 

While Musson’s retirement and Moody’s appointment isn’t a shock to us, as per our regular process the IMR team will review the changes. We’ll update you after completing the review. 

The investment strategies for all mandates managed by the Ivy team won’t change.

For advisor use only.

The views expressed in this update are those of this fund manager as at the date of publication and are subject to change without notice. This update is presented only as a general source of information and is not intended as a solicitation to buy or sell specific investments, nor is it intended to provide tax or legal advice.

This fund is available through a segregated funds policy issued by The Canada Life Assurance Company or as a mutual fund managed by Canada Life Investment Management Ltd. offered exclusively through Quadrus Investment Services Ltd. Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Mutual funds are not guaranteed, their values change frequently, and past performance may not be repeated. A description of the key features of the segregated fund policy is contained in the information folder. Any amount allocated to a segregated fund is invested at the risk of the policyowner and may increase or decrease in value.

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