Canadian financial advisors are predicting zero growth in the Canadian economy during the second half of 2013. That’s according to the summer 2013 edition of the Sun Life Advisor Sentiment Index released by Sun Life Global Investments. The survey, conducted by Ipsos Reid from April 5 to May 22, 2013, measures financial advisors’ opinions on capital markets and key economic factors.
Advisors are feeling positive about capital markets around the world, with bulls outnumbering bears by more than two to one. 44% of advisors polled feel bullish about the markets generally, with their optimism focused on U.S. equities. Over 60% of advisors say they are either very bearish or somewhat bearish on Canadian and U.S. government bonds.
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Sadiq S. Adatia, chief investment officer, Sun Life Global Investments, said: "The U.S. equities market has seen record highs in the first half of 2013. This market has consistently performed well and this trend is predicted to continue."
While the U.S. markets are seeing upward movement, advisors are overall bearish on Canada.
– 44% per cent of advisors see zero economic growth in Canada for the second half of 2013.
– Another 9% are forecasting that the Canadian economy will contract.
– 22% of advisors are at least somewhat bearish on the S&P/TSX Composite Index.
– Nearly 40% expect the index to be flat by the end of 2013.
"The Canadian economy has weathered the financial downturn fairly well. Though no growth is expected over the next six months, we believe the economy will remain stable during this period," added Adatia.
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By GlobalDataThese are some of the findings of an Ipsos Reid poll conducted between April 5 and May 22, 2013 on behalf of Sun Life Financial.
For this survey, a sample of 345 Canadian financial advisors was interviewed online. The survey participants represent a cross-section of the Canadian financial services industry including affiliated and independent financial advisors.
Just over half (53%) of the survey respondents are members of the Mutual Fund Dealers Association (MFDA) and just under half (44%) are members of the Investment Industry Regulatory Organization of Canada (IIROC). The remainders are members of both.
