Organization changes at Invesco Canada

August 10, 2015

Plan sponsors may wish to consider whether this investment news has any implications for the investment options available within their plans.

Effective April 15, 2015, Invesco Canada Ltd (Invesco) announced the appointment of Rob Mikalachki as Chief Investment Officer (CIO), who will also continue in his role as Head of Small Cap Equities at the firm. Mr. Mikalachki has over 20 years of industry experience and joined Invesco in 1999 as a small capitalization investment analyst, became a Portfolio Manager in 2000 and was named Head of Small-Cap Equities in 2011.

Mr. Mikalachki does not directly manage any funds on Sun Life Financial’s Core investment platform (CIP), but as CIO, he will now oversee the portfolio management teams responsible for various funds on the CIP, including the Trimark Income Growth, Trimark Canadian, and Trimark Funds. Mr. Mikalachki’s direct reports will now include the firm’s Asset Class Heads: Michael Hatcher (Head of Global Equities), Ian Hardacre (Head of Canadian Equities) and Jennifer Hartviksen (Head of Fixed Income).
The use of internal succession to fill the CIO position is not likely to result in significant changes to the firm’s bottom-up approach to portfolio management. It is also worth noting that portfolio managers responsible for each Trimark mutual fund have full autonomy in the positioning of their portfolios and are not subject to a ‘house view’, therefore, we do not expect Mr. Mikalachki’s appointment to result in any substantial changes to individual mandates.

The fixed income and equity investment teams responsible for Trimark Funds have experienced considerable personnel turnover, both in recent years and dating back to Invesco’s acquisition of Trimark in 2000. Sun Life Financial has placed Trimark’s funds on its Watch List and will continue to closely monitor the firm.

Sun Life Financial’s Core investment platform offers three funds under the Trimark brand. The table below summarizes Invesco’s current investment team and recent departures for the Trimark branded funds on our platform.

Fund Name

Portfolio Management Team

Trimark Income Growth Fund

Clayton Zacharias is Lead Portfolio Manager for Equities and Asset Mix. The fixed income portion is managed by Jennifer Hartviksen and the Fixed Income Team.

  • Don Simpson, Portfolio Manager of the Trimark Income Growth Fund left the firm in 2012. The Fixed Income Team has seen the departure of two lead Portfolio Managers, namely Alfred Sampson (2013) and Rex Chong (2012). Other recent departures from the fixed income team include Anthony Imbesi (2014) and Gary Lew (2013).


Trimark Canadian Fund

Ian Hardacre (Lead Portfolio Manager) and Jason Whiting (Co-Manager)

  • There have been no significant departures from the team managing this fund.


Trimark Fund

Michael Hatcher is Lead Portfolio Manager and Jeff Feng is Co-Manager.

  • The Trimark Fund has seen the departure of several Portfolio Managers including Darren McKiernan (2013), Dana Love (2012) and Heather Pearce (2011). 



In addition to the above departures, other notable departures since Invesco’s acquisition of Trimark included Bill Kanko, Tye Bousada, Keith Graham and Geoff MacDonald.


Please contact your Sun Life Financial Group Retirement Services representative.