Briefly:

Previous Brieflies this week: | MON | TUE | WED | THU |

Mackenzie Financial has rolled out a handful of new funds, including one under its primary brand and three Saxon Corporate Class funds.

The new Mackenzie All-Sector Canadian Balanced Fund will invest in a portfolio of equity and fixed income investments, primarily through ownership of other Mackenzie-sponsored mutual funds or by investing in equity and fixed income securities directly.

The fund will start out with a 55% allocation to the Mackenzie All-Sector Canadian Equity Fund with 45% of assets in the Mackenzie Sentinel Bond Fund.

The Mackenzie Saxon Balanced Class aims to generate long-term capital growth and to earn income by investing primarily in a well-diversified balanced portfolio of Canadian equity and fixed income securities. The initial asset mix will consist of 70% equities and 30% fixed income.

The equity portion will be managed by Suzann Pennington, Saxon team lead, while the fixed income portion will be managed by Steve Locke, co-lead of the Mackenzie Sentinel investment team.

The Mackenzie Saxon Stock Class, also managed by Pennington, will aim to deliver long-term capital growth, investing in Canadian stocks of all capitalizations.

Mackenzie Saxon Small Cap Class, managed by Scott Carscallen, will invest primarily in a well-diversified portfolio of smaller Canadian companies with below average market capitalization.

• • •

Sprott offers fixed income suite

Sprott Asset Management has announced the launch a suite of three fixed income products, which will be managed by Scott Colbourne and Michael Craig.

“In keeping with our firm’s philosophy of hiring top investment talent and sponsoring products with sustainable competitive advantages, we are delighted to offer investors three distinct fixed income funds that will be spearheaded by industry veterans’ Scott Colbourne and Michael Craig,” said James Fox, president of Sprott Asset Management.

Colbourne will be the lead manager of the Sprott Diversified Yield Fund and the Sprott Short-Term Bond Fund, which will launch on August 5. He will also lead the investment decisions in managing the Sprott Absolute Return Income Fund, a long/short fixed income fund, which will launch on August 31st.

Craig will work with Colbourne as portfolio manager on all three funds.

• • •

Scotia announces portfolio advisor changes

Scotia Asset Management has changed the portfolio advisors serving on a couple of its funds.

Effective August 30, 2010, Thornburg Investment Management, Inc. will become sub-advisor for Scotia International Equity Fund Manager Class. Scotia Asset Management will remain the portfolio advisor for the fund.

Based in Santa Fe, New Mexico, Thornburg manages equity, bond and separately-managed portfolios for totaling approximately $57 billion in assets under management.

Also effective August 30, 2010, Hermes Sourcecap Limited will become portfolio advisor for Scotia European Fund, replacing Alliance Capital Management Canada.

The London-based Hermes Sourcecap specializes in managing high-alpha, unconstrained European equity portfolios for institutional clients. The firm manages approximately $1.2 billion in assets and is part of Hermes Fund Managers Ltd., which is 100% owned by the BT Pension Scheme, the UK’s largest corporate pension fund.

There will be no change to the investment objective of either fund as a result of the portfolio advisor changes.

(07/20/10)