Putnam Wins $1.75 Billion Sub-Advisor Mandate for Mackenzie

Putnam Investments has won a sub-advisor mandate for two fixed income funds from Mackenzie Investments with $1.75 billion in assets under management. The two funds are the Mackenzie Sentinel Corporate Bond Fund and Mackenzie Sentinel Registered North American Corporate Bond Fund.
 
Putnam already manages the Mackenzie Sentinel Corporate Bond Fund and the high-yield fixed income mandate of the Symmetry Fixed Income Class and the Symmetry Registered Fixed Income funds.
 
“We are pleased that Mackenzie Investments has selected Putnam to help manage a number o fits key fixed income solutions in the Canadian marketplace,” said Putnam President and CEO Robert L. Reynolds. “The selection is a solid endorsement of Putnam’s strong, time-tested investment work in the corporate credit realm and the strong reputation the firm has built in the marketplace. We look forward to bringing our experience to bear for a great organization like Mackenzie and its investors.”
 
Putnam’s fixed income team manages $55 billion in institutional and retail assets and has an average tenure of 20 years at the firm.