Alfred Lam, CFA, Senior Vice-President and Chief Investment Officer
Marchello Holditch, CFA, Vice-President and Portfolio Manager CI Multi-Asset Management
We are in an investment environment with greater volatility, particularly in currency movements, which have short-term impacts on asset class returns. These movements can be significant, causing the positive returns of foreign securities in local currency to become negative when converted to Canadian dollars. This year alone the value of the Canadian currency in U.S. dollars began at 77 cents (as at January 6, 2020) and dropped to as low as 69 cents (March 19), before recovering to 75 cents (June 10).
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