Calming perspectives in uncertain markets
A letter from Barry McInerney, President & CEO, Mackenzie Investments
As the outbreak of the coronavirus (or COVID-19) continues to have an impact around the world, I wanted to personally update you on the measures that Mackenzie Investments is taking to address the risks posed by the spread of the virus and the rising number of infections.
First and foremost, I want to let you know that we are here to support you and your business. We are closely monitoring the situation and have taken the necessary steps to protect the health and safety of our employees, clients and partners to minimize any impact on our ability to conduct business.
Since late February, financial markets have been experiencing significant levels of volatility as investors seek to discern the likely impact on economic growth. Our teams are doing their part to mitigate risk, reducing investments in exposed sectors, while also using the recent volatility to buy stocks that are now more attractive.
Mackenzie’s long-standing Business Continuity Plan is tested on a regular basis to be prepared for various scenarios. As a part of this plan, we have built a seamless work-at-home capability for our employees, investment and trading teams to ensure uninterrupted service to our clients.
This includes our investment management teams in our Toronto, Boston, Winnipeg, Hong Kong and Dublin offices. In addition, our professionals have portable devices that enable connection to and communication with our Mackenzie network.
To ensure the continued health and safety of our teams, we have suspended all non-essential business travel for employees, and we are postponing (or using virtual technology) internal and external events and gatherings involving employees and/or clients. Further, any employee who has traveled outside of Canada, has been in contact with those that have or is showing any cold or flu-like symptoms, has been asked to self-isolate for 14 days.
We are committed to sharing appropriate and timely information and viewpoints that can help employees and clients be more confident. Mackenzie is actively communicating with clients and is providing commentary about the markets through emails, calls and on our website.
We are taking a positive approach as we strive to limit the impact of the coronavirus on our staff, our business, clients, and communities. We focus on taking simple and practical steps and providing instructions on how everyone can protect themselves and others.
If you have any concerns or would like to speak to someone directly, please reach out to your Mackenzie business partner, they will be more than happy to answer any questions or discuss the current market situation in more detail.
I want to thank you for your business and confidence as we work through this together.
President and CEO, Mackenzie Investments.