This, Too, Shall Pass
Author: Blake C. Goldring
March 19, 2020
We’re living through challenging, mostly unprecedented times. The health and well-being of our families, friends, colleagues, clients and communities is – and will remain – our primary concern. But their financial well-being is not something to lose sight of.
Thankfully, a concerted effort on the part of central banks and governments across the globe is underway to stabilize our financial footing as we work collectively to overcome the greatest public health issue of our time. The private sector is playing its part too, and AGF is proud to join Canadian business leaders in signing an open letter by the Business Council of Canada calling for ‘one focus’ to help stop the coronavirus.
Still, the uncertainty of our current situation and its implications for Canadians’ financial health is weighing hard on us all.
To their credit, Canada’s federal and provincial governments are taking action to help maintain Canadians’ financial well-being. In recent days, we’ve heard commitments from all levels of government to support small businesses and other groups, providing relief to help them survive this difficult time. We’ve also heard commitments of fiscal stimulus to help the broader economy stem the tide.
These commitments are encouraging, to be sure, but we know through experience that weathering the storm can be difficult, particularly in the thick fog of volatility. This is something financial advisors know all too well. In fact, it’s times like these that advisors demonstrate their greatest value, serving as a steady navigator keeping clients focused on their intended destination as they withstand the choppy waters. The key is effective two-way communication to ensure investors’ focus remains on the long-term.
Ultimately, it’s turbulent times like these that highlight the importance of a disciplined investment approach. There’s no place for panic in portfolios. At AGF, our Investment Management team is defined by its disciplined approach and is working hard to offer the best possible stewardship of the investments our clients have entrusted to our care.
We know that we can’t allow volatility to hinder our success so we remain focused on our investment objectives, delivering consistent results and providing the stability our investors seek regardless of tomorrow’s unknowns.
Our clients and partners depend on us for business continuity – and we must be there to help them during unpredictable times. In order to ensure we can maintain business operations while protecting the health and safety of our employees, clients and communities, we have taken a series of specific steps which are outlined here.
It remains to be seen how long it will take to overcome the current public health crisis and related economic and market downturn. But the financial health of Canadians is not an afterthought and important steps in support of it are being taken. If history is any indication, this, too, shall pass – and that’s the most important thing to keep in mind.
About AGF Management Limited
Founded in 1957, AGF Management Limited (AGF) is an independent and globally diverse asset management firm. AGF brings a disciplined approach to delivering excellence in investment management through its fundamental, quantitative, alternative and high-net-worth businesses focused on providing an exceptional client experience. AGF’s suite of investment solutions extends globally to a wide range of clients, from financial advisors and individual investors to institutional investors including pension plans, corporate plans, sovereign wealth funds and endowments and foundations.
For further information, please visit AGF.com.
© 2020 AGF Management Limited. All rights reserved.
Written by
Blake C. Goldring, C.M., M.S.M., CD, LL.D., CFA®
Executive Chairman
AGF Management Limited
