Canada's Top Wealth Management Firms Encourage Clients to Stay Calm in Sea of Market Volatility and World Economic Events

Recent Membership Survey by Portfolio Management Association of Canada (PMAC) Finds that Active Management is Working Hard for High Net-Worth and Institutional Clients

Positive Outlook on Industry Rewards, Better Due Diligence by Clients Looking for Suitable Portfolio
Managers and Successful Risk Management Strategies Count on Upside of Industry Movement Forward

TORONTO, Nov. 22, 2011 /CNW/ - Canada's top portfolio management firms are actively encouraging investors to stay calm in a sea of market volatility and negative world economic events, according to a recent quality membership survey by the Portfolio Management Association of Canada (PMAC) (www.portfoliomanagement.org).

Staying the course and remaining calm are the primary messages the investment industry is relaying to its clients. Continuing market volatility, negative world economic events and provincial differentiations in regulatory policies count as the top three reasons for a beleaguered investment industry, the survey finds.  On the flip side, the  November 2011 survey finds better due diligence by clients looking for the right money manager, much greater access to information for investment products and potential portfolio investments and strong risk management strategies are key factors in a positive outlook for the business of money management.

Katie Walmsley, President of PMAC, says: "Now is the time to stay the course is the clear message PMAC members are communicating to their clients. Despite prevailing nervousness about the global economy, the industry wants its long-term focus and messages to be unified. This is what will allow the industry to thrive."

Walmsley adds that PMAC's members, who represent over $800 billion in assets under management, are emphasizing the urgency to adjust portfolios to manage risk and investor expectations of long-term returns. "The Association survey took the pulse of our members leading up to today's AGM. The results are loud and clear that despite worsening economic markets, our member companies are working diligently to ensure their valued clients are aware of the challenges facing in domestic and global financial markets and how the industry intends to weather the volatility."

The survey to gauge membership issues also touches on recurring themes in portfolio management, including (in order of importance), the challenges of regulatory and compliance issues, the successes of having a good talent pool in Canada, the benefit of great educational standards and the need for a long-term focus.

Says Walmsley: "We have the best and most educated pool of investment talent in the world. Investors would be prudent in keeping communication lines open with their portfolio managers, so they don't make any rash moves that could impact them negatively in the long run. Canada's economy continues to weather the storm and this seems to be attracting the attention of investors around the globe."

The industry association President also says PMAC is encouraged by the recent progress to harmonize provincial securities regulation across Canada. However, the membership survey noted some of the inefficiencies with the current fragmented regulatory system with some optimism that the Supreme Court will rule in favour of a National Securities Regulator. "Just as every Canadian should be entitled to certain standards in healthcare and public safety, we believe they should have equal access and protection when accessing our capital markets."

About Portfolio Management Association of Canada (PMAC):
Portfolio Management Association of Canada (PMAC) represents an influential membership of over 150 portfolio management companies that manage more than $800 billion in assets for over one million institutional and high net worth clients. Members span private clients, pensions, insurance, foundations and endowments. As one of the largest financial industry Associations in Canada, PMAC carries on the rich 50-year tradition of ICAC's work, and operates coast-to-coast in English and French language markets.

PMAC employs a collaborative information-sharing business model and advocates on behalf of its members to securities regulators and government agencies. The Association increases the awareness of investment counseling benefits, provides a forum for member networking and keeps members up-to-date on regulatory and compliance issues. From institutional pension plans to charitable, endowment and high net worth client accounts, PMAC members work to facilitate investment opportunities for millions of Canadians.

PMAC membership has steadily grown in recent years. PMAC represents investment management firms registered to do business in Canada as Portfolio Managers. The Association's mission is to advocate the highest standards of unbiased portfolio management in the interest of investors served by members. For further information on PMAC, visit www.portfoliomanagement.org.

SOURCE Portfolio Management Association of Canada

For further information:

Contact Margo Rapport
H2 Central Marketing and Communications
Email: mrapport@h2central.ca
Phone: 416-895-5672

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Portfolio Management Association of Canada

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