Mackenzie Investments
Mackenzie Investments is a Canadian investment-management brand serving retail and institutional investors through investment funds, advisory services, and a network of third-party financial advisors.
Last updated August 26, 2026
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Overview
Mackenzie Investments is a Canadian investment-management firm founded in 1967 by Alex Christ. It began by creating the Industrial Growth Fund, a mutual fund later renamed the Mackenzie Growth Fund, and developed into one of Canada's major providers of investment funds and related advisory services. Its business has historically centered on serving retail investors through financial advisors, while also providing investment-management capabilities for institutional clients. The firm expanded through a combination of organic development, fund creation, and acquisitions. Early milestones included its 1973 listing on the Toronto Stock Exchange, its 1977 investment in Universal Group of Funds, and the later acquisition of additional interests in that fund organization. Mackenzie also broadened its investment-management platform through the 1992 acquisition of Ivy Management Inc. and the 1998 acquisition of Cundill Funds Inc. The Cundill business was subsequently expanded through Mackenzie's 2006 acquisition of Cundill Investment Research Ltd. and related affiliates, known collectively as the Cundill Group. Mackenzie's corporate structure changed substantially in 2001, when it was acquired by Investors Group. The transaction contributed to the creation of IGM Financial, a Canadian financial-services group whose businesses include investment management and wealth-management operations. Mackenzie Investments operates within that group rather than as an independently listed public company. IGM Financial is listed on the Toronto Stock Exchange under the symbol IGM, while Mackenzie Investments does not have a separate public ticker identified in the supplied reference material. The firm continued to develop its platform through further transactions. In 2008, it acquired Howson Tattersall Investment Counsel and the Saxon Group of Mutual Funds. In 2011, Mackenzie announced an agreement to sell the MRS Companies—MRS Trust, MRS Inc., and MRS Securities Inc.—to B2B Trust, a Laurentian Bank subsidiary. The sale was completed in 2012 after the relevant regulatory process. Mackenzie's distribution model has relied heavily on independent and third-party financial advisors, giving advisors access to a diversified range of investment products and portfolio-management capabilities. Its product scope has included mutual funds and other investment-fund offerings, with specialist capabilities associated with brands and businesses such as Ivy and Cundill. In 2013, the firm proposed a broad simplification and restructuring of its product lineup, including fund renamings, mergers, changes to investment objectives, and the removal of several fund brands. The Mackenzie Investments Charitable Foundation was established in 1999 with an endowed contribution of $2.3 million from Mackenzie Investments. It is described as an employee-driven nonprofit that coordinates community donations and charitable activities for the Mackenzie group of companies, supported by contributions from employees, clients, and the corporation. The supplied reference describes Mackenzie as having $201.1 billion in assets under management as of June 30, 2021. The same reference states that IGM Financial had more than $262 billion in total assets under management at that date. These figures are time-specific and should not be treated as current assets under management without a newer source.
History
Mackenzie Investments was established in Canada in 1967 by Alex Christ. Its first mutual fund, the Industrial Growth Fund, provided the foundation for the firm's later investment-fund business and was eventually renamed the Mackenzie Growth Fund. The company expanded its public profile in 1973 when it became listed on the Toronto Stock Exchange. During the following decades, Mackenzie developed through investments in and acquisitions of other fund and investment-management businesses. It acquired a stake in Universal Group of Funds in 1977 and purchased the remaining interest in 1993. In 1992, it acquired Ivy Management Inc., adding another investment-management capability to its organization. Mackenzie acquired Cundill Funds Inc. in 1998 and later expanded its Cundill operations in 2006 by acquiring Cundill Investment Research Ltd. and related affiliates, referred to as the Cundill Group. A major corporate turning point occurred in 2001, when Investors Group acquired Mackenzie Investments. The combination helped create IGM Financial, a broader Canadian financial-services group. Mackenzie subsequently operated as an investment-management business within the IGM structure. Its distribution model remained closely connected to third-party financial advisors, through whom the firm provided investment funds and related services to retail clients, while also maintaining services for institutional investors. The platform expanded again in 2008 through the acquisition of Howson Tattersall Investment Counsel and the Saxon Group of Mutual Funds. Mackenzie later changed the composition of its wider financial-services operations. In 2011, it announced an agreement to sell the MRS Companies—MRS Trust, MRS Inc., and MRS Securities Inc.—to B2B Trust, a Laurentian Bank subsidiary. The sale was completed in 2012 after the required regulatory process. In 2013, Mackenzie announced a proposal to simplify and restructure its investment-product range. The plan involved renaming and merging certain funds, changing the investment objectives of other funds, and discontinuing several fund brands. This represented a portfolio-management and brand-architecture decision intended to make the offering more coherent. Mackenzie also established a philanthropic structure. The Mackenzie Investments Charitable Foundation was created in 1999 with a $2.3 million endowed gift from Mackenzie Investments. The foundation is described as an employee-driven nonprofit coordinating charitable and community-giving activities for the Mackenzie group of companies, with support from employees, clients, and the corporation. As described in the supplied reference, Mackenzie had $201.1 billion in assets under management as of June 30, 2021. The reference places it among Canada's largest investment-management firms and states that IGM Financial had more than $262 billion in total assets under management at the same date. Mackenzie is therefore best understood as a major Canadian investment-management brand within IGM Financial, rather than as a separately listed public company.
- 2013
Fund lineup restructuring proposal
[1]Mackenzie proposed renaming and merging funds, changing selected investment objectives, and eliminating several fund brands.
- 2012
MRS Companies sale is completed
[1]The sale of the MRS Companies to B2B Trust was completed.
- 2011
Agreement to sell the MRS Companies
[1]Mackenzie announced an agreement to sell MRS Trust, MRS Inc., and MRS Securities Inc. to B2B Trust.
- 2008
Howson Tattersall and Saxon acquisitions
[1]Mackenzie acquired Howson Tattersall Investment Counsel and the Saxon Group of Mutual Funds.
- 2006
Cundill Group acquisition
[1]Mackenzie acquired Cundill Investment Research Ltd. and its affiliates, known as the Cundill Group.
- 2001
Acquisition by Investors Group
[1]Investors Group acquired Mackenzie Investments, contributing to the creation of IGM Financial.
- 1999
Mackenzie Investments Charitable Foundation is established
[1]The charitable foundation was established with a $2.3 million endowed gift from Mackenzie Investments.
- 1998
Cundill Funds is acquired
[1]Mackenzie acquired Cundill Funds Inc.
- 1993
Universal Group of Funds acquisition is completed
[1]Mackenzie acquired the remaining interest in Universal Group of Funds.
- 1992
Acquisition of Ivy Management
[1]Mackenzie acquired Ivy Management Inc.
Products and positioning
A broad Canadian investment-management platform distributed primarily through third-party financial advisors and serving both retail and institutional clients.
Mutual fund · 1967
Mackenzie Growth Fund
Mackenzie's first mutual fund was launched in 1967 under the name Industrial Growth Fund. It was later renamed the Mackenzie Growth Fund and became an early foundation of the firm's investment-fund platform.
Investment management
Ivy investment-management offerings
Mackenzie's Ivy capabilities entered the organization through its 1992 acquisition of Ivy Management Inc. The Ivy name represented a specialist investment-management and fund capability within Mackenzie's broader product platform.
Investment management · 1998
Cundill investment-management offerings
Mackenzie added Cundill Funds in 1998 and expanded the relationship through its 2006 acquisition of Cundill Investment Research and affiliated businesses. The Cundill operations formed a specialist component of Mackenzie's investment-management capabilities.
Investment products and services
Investment funds and advisory services
Mackenzie provides investment funds and related investment-advisory services for retail and institutional clients. Its distribution model has emphasized access through a diversified network of third-party financial advisors.
Brand decisions
2013
Simplification and restructuring of the product lineupStrategyBackground
Mackenzie sought to simplify its investment-product offering and reduce complexity across its fund range.
Action taken
The proposal included renaming and merging funds, changing selected investment objectives, and eliminating several fund brands.
Aftermath
The proposal marked a significant product and brand-architecture reorganization, although the supplied material does not detail the outcome for every affected fund.
2011
Sale of the MRS Companies to B2B TrustM&ABackground
Mackenzie announced a proposed sale of MRS Trust, MRS Inc., and MRS Securities Inc. to B2B Trust, a subsidiary of Laurentian Bank.
Action taken
The parties entered into an agreement subject to regulatory notifications and approvals.
Aftermath
The transaction was completed in 2012.
Sources1 sources
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