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Money Management

Mackenzie Investments hires AJO partner to lead new quantitative equity subsidiary

Mackenzie Investments on Wednesday launched a new quantitative equity subsidiary and named Arup Datta as leader of the new unit.

The Toronto-based manager's new unit, Mackenzie Global Quantitative Equity, will be based in Boston.

Mr. Datta will be senior vice president, head of quantitative investing at Mackenzie Investments, along with leading the new wholly owned subsidiary, said Trish Tervit, Mackenzie spokeswoman.

The new subsidiary will initially manage $200 million in assets in global and emerging markets equities, Ms. Tervit said.

Mr. Datta was partner, portfolio manager and head of international investments at AJO. Mr. Datta will not be replaced, said Theodore R. Aronson, AJO managing partner.

Mackenzie Investments had C$93.5 billion ($72.9 billion) in assets under management as of Oct. 31.