Dear Plan Members,
The events of recent weeks and days are unsettling, to say the least. As the COVID19 outbreak makes its way around the world, economies are being affected, and investment markets are responding.
As a member of a group retirement/pension plan program with Eagle Bay Financial Services, we would like to take this opportunity to reach out and provide you with some perspective on what has been happening. We encourage you to maintain calm & not abandon traditional investment philosophy.
- Before COVID19, the Canadian investment marketplace (based on the TSX) was at an all-time high.
- Governments across the globe are responding with monetary policy changes & are making efforts to contain the economic damage created by COVID19.
- Canada is likely headed towards a recession due to the fast and significant decline in oil prices and commodity markets in response to supply/demand caused by the coronavirus.
- The Bank of Canada has already cut interest rates to ease the pain.
- We will likely see more uncertainty and volatility as the coming days and weeks unfold.
- Down markets always have & will always provide an opportunity for investors to “buy low.”
“ We encourage you to maintain calm & not abandon traditional investment philosophy. ”
If you’re unsure how your funds are invested or how they may be affected by the events of recent days and weeks, you can access your plan information online. You can also contact your Servicing Advisor for an overview of your investment allocation.