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Artwork for The Invested
Bank Of Canada
Federal Reserve
Inflation
Investment Strategies
Interest Rates
Bank Of Japan
Emerging Markets
US Election
U.S. Inflation
Energy Transition
Geopolitical Risks
Green Energy
Fixed Income
Mackenzie Investments
Equity Markets
Canada
Mexico
U.S. Federal Reserve
Gold
Commodities

What’s behind today’s headlines and what it could mean for portfolios? Host Rajan Bansi sits down with Mackenzie portfolio managers and strategists to unpack the trends moving markets and the implications across asset classes. Tune in for timely insights to support your next client conversation.

PublishesWeeklyEpisodes200Founded7 years ago
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Artwork for The Invested

Latest Episodes

Rajan Bansi sits down with Tim Johal to cut through the geopolitical noise and discuss why Canada deserves a closer look from investors. From offering cheaper valuations than the US, to featuring a market tilted to energy and materials, you'll hear w... more

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Dustin Reid explains how a market shock can move from geopolitical tension abroad to tougher choices at home. He explores what higher energy prices could mean for portfolios, central-bank decisions and the households that often feel the pressure firs... more

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Prolonged conflict can leave a lasting mark on how markets assess energy risk. Host Rajan Bansi sits down with Benoit Gervais, head of the Mackenzie Resource Team, to explore how geopolitical instability can accelerate energy sovereignty, reshape sup... more

YouTube

Host Rajan Bansi sits down with Arup Datta, Head of Mackenzie’s Global Quantitative Equity Team, to demystify modern quantitative investing, and why its edge is built for real world portfolios. They unpack how transparency, governance, and human over... more

YouTube

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Recent Guests

Tim Johal
Portfolio Manager with Mackenzie's North American Equity and Income Team; Lead Manager of the Mackenzie Dividend Fund
Mackenzie Investments
Episode: Canada beyond the value label
Prerna Mathews
VP Product Innovation and Development
Mackenzie Investments
Episode: 2026 ETF Outlook: The shifts you can’t ignore
Benoit Gervais
Head of Mackenzie Investments Resources Boutique
Mackenzie Investments
Episode: Resources in a multipolar world
Gleb Sivitsky
Vice President and Portfolio Manager on Mackenzie's Multi-Asset Strategies team
Mackenzie Investments
Episode: Turning emotion into investment discipline
Laurent Boukobza
Vice President, ETF Strategist
Mackenzie Investments
Episode: Concentration Risk 2.0
David Ross
Managing Director and Head of Private Credit with Northleaf Capital Partners
Northleaf Capital Partners
Episode: Inside Private Credit: Growth, Resilience, and Opportunity
Michael Williamson
Portfolio Manager at Mackenzie Investments
Mackenzie Investments
Episode: From Rotation to Precision: Redefining Sector Strategies
Arup Datta
Senior Vice President, Portfolio Manager, and Head of Global Quantitative Equity
Mackenzie Investments
Episode: All-Weather Alpha: The GQE Approach
Shah Khan
Senior Vice President, Portfolio Manager, and Co-Lead of Mackenzie's Bluewater Boutique
Mackenzie Investments
Episode: Staying Disciplined in a Momentum-Driven Market

Hosts

Rajan Bansi
Head of Portfolio Construction and Mackenzie Private Wealth; multiple roles across Mackenzie Investments.
Matthew Schnurr
Host of Market Exchange; leads discussions on market structure and strategy.

Reviews

4.9 out of 5 stars from 89 ratings
  • Excellent insight!

    Great work Matt!

    Apple Podcasts
    5
    Gustafja
    Canada6 years ago
  • Great insight

    Great overview of the story behind the PMs numbers!

    Apple Podcasts
    5
    i87bell
    Canada6 years ago
  • Amazing Podcast

    Great insights into PM teams and senior management thoughts at the firm. Highly recommend.

    Apple Podcasts
    5
    Toronto IA
    Canada6 years ago
  • Awesome

    Awesome to hear frank conversations w the industry’s best.

    Apple Podcasts
    5
    Matt McGoon
    Canada6 years ago
  • Fantastic in-depth discussions with PMs!

    This podcast is both highly entertaining and educational! I love learning more about the PMs as individuals and their unique investment philosophies. Keep them coming!

    Apple Podcasts
    5
    JESTAR552
    Canada6 years ago

Listeners Say

Key themes from listener reviews, highlighting what works and what could be improved about the show.

Excellent insight! Great work supporting client conversations.
Super interesting and well produced.
Amazing podcast with frank conversations from industry leaders.
Great insight, wonderful overview of PMs and numbers behind the scenes.
Awesome discussions with industry's best; highly engaging.
Fantastic in-depth discussions with PMs; educational and entertaining.

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Talking Points

Recent interactions between the hosts and their guests.

Canada beyond the value label
Q: How would you describe the current state of Canadian equities in a minute to a client given the geopolitical environment?
The market has been strong, driven by a rebound in the materials sector and banks; we expect that the secular trends and diversified balance sheets will support Canada even as near-term noise persists, with value and cyclicality playing a larger role alongside growth areas.
Energy sovereignty is reshaping how markets price risk
Q: Benoit, just yesterday, you and I were discussing a recent article in The Economist about Western investments into critical minerals being driven more by geopolitics and future supply chains than current demand. What is your take on this position?
We align with the view that much of the investment into critical minerals has geopolitics at its core, aiming to reduce future risk and build resilience. The emphasis on domestic refining and downstream capabilities is crucial because upstream minerals are not sufficient without the ability to process and manufacture finished goods, which remains heavily concentrated outside the West.
Energy sovereignty is reshaping how markets price risk
Q: Very good. Benoit, you mentioned $120 peak the last time we had a geopolitical risk premium. If we go back through history, when we have these events, we certainly have a surge in prices, but eventually some form of normalization. What do you see as the realistic ceiling for oil prices if the conflict persists?
Near term, demand destruction could push prices to well over $120, potentially up to $150 in nominal terms depending on inflation and global demand. In the longer term, substitution and energy sovereignty dynamics suggest a sustained premium over $100 as markets shift toward diversified supply and domestic capabilities.
Energy sovereignty is reshaping how markets price risk
Q: Benoit, I want to get into a conversation with you, and I just want you to give me the straight goods, specifically the Strait of Hormuz. Lots of headline risk given the conflict in Iran, geopolitical risk premiums have been built into oil prices. How should investors think about the geopolitical premium that is in oil prices right now, given the conflict in Iran?
The world is multi-polar, and this amplifies a signal we've discussed before. The source of energy and its geopolitical risk premium are increasingly tied to origin, with the Middle East being a long-term supplier and therefore a central point of focus for supply diversification and pricing risk.
Resources in a multipolar world
Q: What does all of this really mean for Canada?
Gervais outlines Canada's strengths in natural resources and the need for a supportive investment environment.

Audience Metrics

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Frequently Asked Questions About The Invested

What is The Invested about and what kind of topics does it cover?

- This show centers on macro-driven investment themes, with Mackenzie portfolio managers and strategists unpacking how trends across fixed income, equities, and ETFs translate into portfolio construction. Recent episodes emphasize active and systematic strategies, rate decisions from major central banks, and geopolitics shaping resource markets. A standout thread is the shift toward ETF-centric and data-driven approaches, including innovative products and liquidity-focused strategies that aim to help advisors better navigate volatility and client expectations.

- Notable strengths include expert-driven conversations from senior investment professionals, practical takeaways for portfolio construction, and a clear focus on how policy, rates, a... more

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1. Get Sharpe
2. At Any Rate
3. Bloomberg Daybreak: US Edition
4. The Macro Trading Floor
5. Macro Voices

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The Invested launched 7 years ago and published 200 episodes to date. You can find more information about this podcast including rankings, audience demographics and engagement in our podcast database.

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What guests have appeared on The Invested?

Recent guests on The Invested include:

1. Tim Johal
2. Prerna Mathews
3. Benoit Gervais
4. Gleb Sivitsky
5. Laurent Boukobza
6. David Ross
7. Michael Williamson
8. Arup Datta

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