COVID-19 Impact Survey - CFA Montréal Members Predict that Canada Will be in Recession for Less Than One Year Français
MONTRÉAL, April 23, 2020 /CNW Telbec/ - An in-house survey of Chartered Financial Analysts (CFA) charterholders from CFA Montréal regarding the impact of the COVID-19 pandemic reveals, among other things, that 60% of respondents expect the recession to last less than one year in Canada, while 57% are of the same view regarding the recession in the United States.
"The results of the survey confirm that the financial sector remains very active, with almost 80% of our members working full time from home due to the pandemic. Even if they think it is unlikely that Canada will experience deflation as has occurred in Japan, almost half our members will nevertheless be reviewing their approaches, whether with regard to risk management, asset allocation or portfolio rebalancing," said Carl Robert, CFA, President of CFA Montreal.
According to CFA Montreal members, shares in the information technology (46%), healthcare (41%), financial (35%) and basic consumption (31%) sectors will be most attractive in the short term. Meanwhile, assets in the real estate (35%), fixed income (33%), private equity (30%) and hedge fund (26%) categories are likely to suffer the most negative impacts in the long term.
Click here to access the survey results.
Survey highlights1
- 44% of respondents anticipate a recession of 6 to 12 months in Canada, while 25% think it will last between 12 and 18 months;
- 39% of respondents expect a recession of 6 to 12 months in the United States, while 29% think it will last between 12 and 18 months;
- More than 78% of respondents believe the American stock market will not recover its current losses for another 12 to 24 months;
- 65% are of the opinion that Asia will emerge most quickly from the global recession, followed by North America (34%);
- 72% anticipate that the best opportunities in the short term are in the equity markets, followed by the fixed income (27%) and currency markets (22%);
- 90% do not foresee a closure of stock exchanges during the crisis.
The survey was conducted online by CFA Montréal among its 2,900 members between April 2 and April 13, 2020, and 306 of them responded. The margin of error of the survey is 5%, 19 times out of 20.
About CFA Montréal
Founded in 1950, CFA Montréal is part of the worldwide network of member associations of the CFA Institute. These associations promote the highest standards of ethics, training and professional excellence for the ultimate benefit of society. CFA Montréal represents the interests of more than 2,900 investment professionals through awareness, training, event organization and professional development.
CFA Institute, the world association of investment professionals, sets standards for professional excellence and credentials. The organization promotes ethical behaviour in investment markets and is recognized as a valuable source of knowledge in the global financial community. CFA Institute is made up of more than 170,000 CFA® charterholders in 162 markets around the world. For more information, visit cfamontreal.org and cfainstitute.org.
1 Since participants could choose more than one response to certain questions and the figures are rounded, total percentages do not necessarily equal 100 in all cases. |
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SOURCE CFA Montréal
Martine Robert | 514 212-7812 | [email protected]
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