Canadian assets managers couldn’t ask for better timing for the current market rally.
For starters, it kicks off the new year with some hope, something that is much needed after such prolonged doom and gloom.
More importantly, it coincides with Canadian RRSP season, which drives the majority of their mutual fund sales. Despite lasting only two months, RRSP season accounted for more than half of all long-term mutual fund sales for the past three years, notes National Bank Financial analyst Shubha Khan. Should that trend continue, the more optimistic market outlook could convince more people to invest before the March 1 contribution deadline.