Toronto-based asset manager Mackenzie Institutional, an affiliate of Canada’s Power Financial Corporation, is expanding its presence in Asia in a bid to increase its investment portfolio of US$62 billion, according to Asia Asset Management.
The firm is looking at sourcing more mandates in the Asia Pacific region as part of a broad initiative, reported in 2011, to offer its investment strategies worldwide, Mackenzie’s executive vice president Gary Wing was quoted as saying by the journal.
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Wing said: "We already have a fairly significant position in the Canadian market. So it’s natural for us to look beyond the border for business expansion opportunities."
The firm’s global equity division offers clients with a variety of mandates that access global assets. Also, the firm has recently launched an Asian credit focused mandate, via the newly acquired Singapore-based team.
Mackenzie has appointed Arris Partners, a business consultancy to establish a footprint in Asia in terms of brand building and market research.
Blake Moore, executive vice president and head of distribution with Mackenzie Investments, said:"The firm is not setting any hard targets for AUM growth in regard to Asian expansion. It’s a long-term strategy. We do have an internal matrix to measure our progress."
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