Mackenzie FuturePath Shariah Global Equity Fund provides Primerica clients with the ability to invest in global Shariah-compliant equities
TORONTO, July 6, 2023 /CNW/ - Mackenzie Investments ("Mackenzie") today announced the launch of Mackenzie FuturePath Shariah Global Equity Fund ("the Fund"), an actively managed mutual fund that provides access to global, Shariah-compliant investing certified by Ratings Intelligence, an external, world-class Shariah advisory firm. The Fund is part of Mackenzie's FuturePath investment suite, launched in partnership with Primerica Financial Services Ltd. ("Primerica"), and will be available exclusively to Primerica clients across Canada.
The Fund, managed by the Mackenzie Global Quantitative Equity Team, will invest primarily in developed-market equities that do not generally derive their income from industries that include alcohol, tobacco, pork-related products, weapons and defense, conventional banking, conventional insurance companies and adult entertainment. The Fund will be reviewed on a semi-annual basis by an external Islamic Finance Advisory Board from Ratings Intelligence to ensure ongoing compliance and certification.
"We're honoured to offer this new Fund to Primerica clients and provide them with the opportunity to align their investing with their faith and values," said Luke Gould, President and CEO, Mackenzie Investments. "We believe the Fund will benefit from the risk-aware focus and disciplined core investing approach that Mackenzie's dedicated investment professionals will apply to unlock high-quality, Shariah-compliant opportunities for long-term capital growth."
"Canadians have diverse and changing needs when it comes to their investments, and we seek to continually evolve our product offerings to deliver the products our clients are looking for," added John A. Adams, CEO, Primerica Canada. "We are proud to be working with Mackenzie to offer this new Fund."
In July 2022, Mackenzie Investments partnered with Primerica to launch the Mackenzie FuturePath suite of mutual funds, a full range of investment solutions created exclusively for Primerica with the goal of helping more Canadians become better invested. For more information on Mackenzie FuturePath please visit https://www.mackenzieinvestments.com/en/primerica.
About Mackenzie Investments
Mackenzie Investments is a leading investment management firm with $190 billion in assets under management as of May 31, 2023. Mackenzie provides investment solutions and related services to more than one million retail and institutional clients through multiple distribution channels. Founded in 1967, Mackenzie is a global asset manager with offices across Canada as well as in Boston, Dublin, London, Hong Kong and Beijing. Mackenzie is a member of IGM Financial Inc. (TSX: IGM), one of Canada's premier financial services companies with approximately $256 billion in total assets under management and advisement as of May 31, 2023. For more information, visit mackenzieinvestments.com.
About Primerica Financial Services Inc.
Primerica, Inc., is a leading provider of financial services to middle-income households in North America. Independent licensed representatives educate Primerica clients about how to better prepare for a more secure financial future by assessing their needs and providing appropriate solutions through term life insurance, which we underwrite, and mutual funds, annuities and other financial products, which we distribute primarily on behalf of third parties. We insured over 5.7 million lives and had over 2.8 million client investment accounts on December 31, 2022. Primerica, through its insurance company subsidiaries, was the #3 issuer of Term Life insurance coverage in the United States and Canada in 2022. Primerica stock is included in the S&P MidCap 400 and the Russell 1000 stock indices and is traded on The New York Stock Exchange under the symbol "PRI".
SOURCE Mackenzie Investments
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