It has been more than five months since the COVID-19 crisis landed here in Canada, creating difficulties and uncertainties for families and communities. We continue to work closely with our staff, Directors, and service providers to ensure that the information and assets of our members will be safeguarded, no matter the circumstance.
The health and well-being of our members and staff is of the utmost concern to us. We are strongly encouraging our staff and all our members and their families to protect themselves and others by following the guidelines set out by the Public Health Agency of Canada https://www.canada.ca/en/public-health/services/diseases/2019-novel-coronavirus-infection/awareness-resources.html.
Our office remains open and fully operational, with some staff working remotely to continue to serve you without interruption. Similarly, the service providers to Tradex and the Tradex Funds, our portfolio managers and our third-party fund providers have made a seamless transition to alternative work arrangements.
To protect your health and that of our staff, we encourage you to continue to communicate with us by telephone or e-mail. If necessary, in-person meetings continue to be available while our office is open, subject to distancing and mask-wearing requirements. While we were hoping to celebrate our 60th anniversary in-person this year, including presentations from our Tradex Fund portfolio managers, the Board has decided in the interest of public health that this will not happen. We hope to see everyone next April if conditions permit.
Turning to markets, we understand the concern about the pandemic’s impact on economies and markets worldwide. The markets have reacted to government actions, individual reactions and uncertainties associated with the Covid-19 outbreak which combined with the oil price war brought equity investment globally into a bear market in March. Subsequent unprecedented actions by Central banks and governments along with the end of the oil price war, have assisted the markets in rebounding quite strongly from the March 23rd lows. Central banks continue to indicate they would adopt measures aimed at helping to bridge the current period of containment and create the conditions for a sustainable recovery. As citizens return to work, the impact of social distancing lessens, consumer demand increases and oil prices recover, economies have a better chance of recovering.
While the future is always unknown, historically investors retaining their equity exposure during bear markets have been better off subsequently to those who sold given the fullness of time.
Do not hesitate to contact us if you wish to review your personal situation.