Fine-tuning protection
Structured notes in Canada are enjoying a popularity surge as interest rates dwindle and retail investors seek greater returns on the protected portion of their portfolios. Mackenzie Financial Services thinks its new tax-efficient principal-protected note is the answer to standing out from the crowd. Sophia Morrell talks to Mackenzie's Brad Gerster
"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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