The Invested

Beyond smart beta: Building better income with Systematic Strategies

In this episode, Michael Kapler, Portfolio Manager on Mackenzie’s Multi-Asset Strategies Team discusses how modern data, computing power, and disciplined modelling have transformed systematic investing—and what that means for constructing stronger income solutions. He walks through how high-dividend ETFs using covered calls and leverage generate diversified cash flows while balancing risk, transparency, and downside protection. 

This episode was recorded on December 8, 2025. 

The next Fed chair and the market’s blind spot

In this episode, Dustin Reid, Chief Fixed Income Strategist, unpacks the Fed’s dilemma of hot inflation and cooling labour markets, the implications of a potential Kevin Hassett Fed chair, and how policy risk could ripple across bonds, equities and currencies. He also lays out why Canada’s growth drivers are weakening and why the first half of 2026 may deliver very different outcomes for the US, Canada, and global markets. 

This episode was recorded on Dec 11, 2025. 

2026 Market Outlook with Lesley Marks and Steve Locke

In this episode, Lesley Marks, CIO of Equities, and Steve Locke, CIO of Fixed Income and Multi-Asset Strategies, break down Mackenzie’s 2026 Market Outlook and explain why investors will need both resilience and discipline in the year ahead. They unpack the path of interest rates as central banks balance softer growth with sticky inflation, why earnings—not multiples—will drive equity returns, and how fiscal stimulus and capital investment could reshape opportunities across regions. The conversation also highlights where risks may be hiding beneath the surface and how diversification beyond US large caps can strengthen portfolios going into 2026. 

For more insights and perspectives, download our 2026 Market Outlook.

This episode was recorded on December 8, 2025. 

Driving in fog: Central banks navigate uncertain data

In this episode, Dustin Reid, Chief Fixed Income Strategist, unpacks diverging views at the Fed, Canada’s steady hand on rates, and Japan’s rising fiscal risks. Dustin shares how his team is positioning portfolios amid “thickening fog” in the data, why he expects the Fed to hold in December, and where he still finds value in short-term Canadian bonds and emerging markets. 

This episode was recorded on November 20, 2025. 

Central banks at a crossroads

In this episode, Dustin Reid, Chief Fixed Income Strategist, breaks down the latest rate cuts from the Federal Reserve and the Bank of Canada—and what they mean for advisors building resilient portfolios. Dustin explains why the Fed’s pushback on further easing and the Bank of Canada’s move to the bottom of its neutral range could shape opportunities across the yield curve. He also shares how his team is positioning in short-term Canadian bonds, managing duration risk, and balancing exposure between developed and emerging markets. 

Thanks for listening—and as always, stay invested. 

This episode was recorded on October 29, 2025. 

Turning emotion into investment discipline

In this episode, Gleb Sivitsky, Portfolio Manager on Mackenzie's Multi-Asset Strategies Team, discusses how thoughtful portfolio construction can help reinforce discipline. He explains why investor mistakes rarely stem from a single decision—it's often a combination of behaviours, like chasing performance or selling at the wrong time. Gleb explores how modern solutions—from model portfolios to ETF portfolios to asset allocation ETFs—can help clients stay invested for the long term. 

Thanks for listening—and as always, stay invested.

This episode was recorded on October 21, 2025.

Opportunities beyond the Magnificent Seven

In this episode, Katherine Owen, Portfolio Manager with Mackenzie’s Global Equity & Income Team, shares her perspective on navigating today’s complex market. She discusses the resilience of the US economy, the growing divide between AI-driven mega-cap leaders and the broader market, and where her team is finding compelling opportunities abroad. Advisors will also hear about the key risk investors may be overlooking as they build diversified portfolios. 

Thanks for listening—and as always, stay invested. 

This episode was recorded on October 20, 2025.

Concentration Risk 2.0

In this episode, Laurent Boukobza, ETF Strategist at Mackenzie Investments, explains why diversification is more important than ever. He explores ETF strategies that can help manage concentration risk and strengthen portfolio resilience. He discusses the growing importance of international diversification, the rising interest in active ETFs in Canada, and the value of a disciplined, repeatable investment process in volatile markets. From factor-based strategies – like quality and low volatility – to the role of Mackenzie’s US Alpha Extension ETF, Laurent shares practical insights for building more resilient portfolios in a market driven by a narrow group of leaders.

This episode was recorded on October 1, 2025.

What the Fed and BoC Cuts Mean for Markets

In this episode, Dustin Reid, Chief Fixed Income Strategist, discusses the 25 basis point rate cuts from both the Fed and Bank of Canada – highlighting Fed Chair Jerome Powell’s “insurance cut” framing and labour market pressures. He also explores the BoC’s outlook amid persistent economic slack. Dustin shares how these developments are shaping the team’s positioning, including duration, spreads, and FX, and reflects on the key risks that could test market resilience and global carry strategies in the months ahead. 

This episode was recorded on September 17, 2025.

Inside Private Credit: Growth, Resilience, and Opportunity

In this episode, David Ross, Managing Director and Head of Private Credit at Northleaf Capital Partners, unpacks the structural shifts driving private credit's growth and why mid-market opportunities remain attractive. He explains the fundamentals of the asset class, how it complements traditional fixed income, and the risks advisors should keep in mind as the asset class continues to mature. David also shares his insights on the potential impact of a Fed easing cycle.

This episode was recorded on September 4, 2025.