In the aftermath of the horrifying events that took place in the U.S. yesterday, the Investment Funds Institute of Canada has moved to reassure investors that, “history has demonstrated time and again that markets rebound from crisis in short order.”

“On a positive note,” stated IFIC president and CEO Tom Hockin, “the closing of markets across the country gives investors and business employees alike the opportunity to reflect and act rationally.” He added, “we were told yesterday by Nobel Prize winner in Economics Robert Mundell, that the crisis ‘will have a little effect but not a big effect’ on U.S. economic growth.”

Retail mutual funds will not be priced today. IFIC confirmed that Canadian mutual funds will be ready to resume business as soon as the Canadian financial markets reopen.

IFIC also said that as a result of the trading suspension placed on investment funds yesterday, investors will have the option to cancel their pending trades “prior to the next proper market close”.

IFIC has posted additional fact sheets on its web site, www.ific.ca, which aim to encourage investors not to act precipitously at this time.