Canada-based Mackenzie Financial has announced that it has re-established ties with Tim McElvaine and appointed McElvaine Investment Management as sub-adviser to Mackenzie Maxxum Canadian Value Fund, effective immediately, and Mackenzie Maxxum Canadian Value Class, on February 23, 2009.
Effective February 26, 2009, the Mackenzie Maxxum Canadian Value Fund and Mackenzie Maxxum Canadian Value Class will be renamed Mackenzie Universal Canadian Value Fund and Mackenzie Universal Canadian Value Class.
Mr McElvaine is the founder and president of McElvaine Investment Management. He has worked with the Cundill organisation, where he served as lead portfolio manager of the Mackenzie Cundill Canadian Security Fund from 1992 to 1999, and manager of Mackenzie Cundill Value Fund from 1998 to 2003. Mr McElvaine also served as chief investment officer of the organisation from 1998 to 2003.
David Feather, president of Mackenzie Financial Services, said: Our firms have had a long-standing association with one another, and Tim is very familiar to financial advisors across the country. Previously, his exceptional investment talents were only available to accredited, high net worth investors. Through Mackenzie Universal Canadian Value Fund and Mackenzie Universal Canadian Value Class, we will again offer Tim’s expertise to all Canadian investors.
