After avoiding Canada during its currency’s historic three-year collapse, Fidelity Investments is sensing the rout is nearing an end.
David Wolf, who manages $55-billion ($40-billion U.S.) for the world’s second largest mutual-fund company, is starting to put on hedges protecting against Canadian-dollar strength on the overseas investments that he manages for local clients. He’s also picking through the country’s stock market in anticipation of better economic times ahead.
Will you offer us a hand? Every gift, regardless of size, fuels our future.
Your critical contribution enables us to maintain our independence from shareholders or wealthy owners, allowing us to keep up reporting without bias. It means we can continue to make Jewish Business News available to everyone.
You can support us for as little as $1 via PayPal at office@jewishbusinessnews.com.
Thank you.
The Canadian dollar is bouncing back from a 13-year low reached last month in a climax to the longest, deepest depreciation in its history. With the free fall in oil prices that drove the currency’s plunge looking less and less likely to reverse, the country is counting on a weaker dollar to transition away from its dependency on commodity exports to a more manufacturing-based economy.
