Fine-tuning protection


"The 500-channel universe of structured notes" is how Brad Gerster, senior vice-president of structured products at investment manager Mackenzie Financial Services in Toronto, describes the Canadian market. Since Mackenzie issued its first fund-linked note in May 2003, fixed-income products have been enjoying a consistent bull run. Canadian retail investors are showing an appetite for principal protection on a segment of their portfolio, and principal-protected notes (PPNs) are growing in

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