Monday morning briefing: Tech stocks that shine during COVID-19 crisis
Thank you for reading Monday Morning Briefing. For this edition, and going forward, we have decided to change the format of the briefing to provide you with relevant information you will need to weather the new realities we face today – and the challenges that will likely continue over the coming months. As small business owners ourselves, we know that access to timely news, human stories and tools to help you operate better, can be invaluable at times like these. Please let us know if you have any feedback on our new format or want more information on our stories. We want to hear from you, our readers.
Jillian Bannister, CEO
Richard Heft, President
Economic/industry news
The BoC kept its central interest rate at 0.25%: BoC sees risk of ‘structural damage,’ ramps up bond-buying
Economic growth in Canada slumped in March: Data indicate economy plunged in March: StatsCan
China’s GDP contracted over the first quarter: China says its economy shrank by 6.8% in the first quarter as the country battled coronavirus
The value of alternatives through volatile markets: Alternatives can smooth market bumps
Cash levels among fund managers rising: Fund managers at highest cash levels since 9/11: BofA survey
COVID-19 has resulted in more cashless payments: Contactless payments skyrocket because no one wants to handle cash
Reasons for hope
A look at the potential cures for COVID-19: Handicapping the most promising of 267 potential coronavirus cures
Private equity firms stepping up to help first responders and portfolio company employees: Private equity firms promise millions for coronavirus relief
Restaurant changes operations to help community: Vaughan restaurant now making hand-sanitizer, keeps staff employed
Assisting your clients
Generation Z reconsidering how they view money: Why COVID-19 is rebooting how Gen Z feels about money and banking
Best practices to follow when RIAs are working from home: Key tech steps for RIAs working from home
Eight principles to keep in mind with your marketing efforts in the current market environment: PR and marketing: How to communicate during COVID-19
It is important to remain in constant contact with your clients: Communicate with clients clearly and often, consultant says
Looking after yourself while working from home: Pandemic, stress and luxury
Chart of the week
Despite significant volatility in financial markets over the past two months, there have been a number of stocks that have performed well. Some stocks have benefited from higher expectations for sales given that more people are at home. Here are a few of these “stay-at-home” stocks, which have outperformed the broader market, even producing share price gains. Netflix Inc., Amazon.com Inc., Peloton Interactive Inc. and Zoom Video Communications Inc. are all seeing gains. As people eventually return to work, and social distancing measures are relaxed, what will be in store for the share prices of these companies? Let us know what you think.
Used with permission of Bloomberg Finance L.P.
News and notes (U.S.)
The hedge fund industry experienced net outflows in February: Hedge funds see USD8.1bn in outflows in February
BlackRock raised US$5.1 billion for its latest alternative fund: BlackRock just closed its largest alternative fund yet
Allocators demonstrating cautious sentiment toward private market investments: Investors are cautious on private markets during shutdowns, Pitchbook survey shows
Investment funds experienced significant outflows in March: Funds saw largest ever exodus in March, Morningstar says
Mutual fund sales and performance over the past two weeks: Mutual funds scorecard: April 15 edition
News and notes (Canada)
Purpose Investments launches new fund: Purpose unveils new structured equity yield portfolio
A look at the federal government’s assistance programs: Understanding CERB, EI and the feds’ wage subsidy
CI Financial partnering with private-market investment company: CI Financial forges private-market investment partnership
IIROC is delaying fee collection: IIROC gives dealers a breather on fees