Seven out of 10 Canadians say they are holding steady with their investment strategies in the midst of recent market turmoil, reports Manulife Financial, which released the results of its national poll today.

The 15th regular quarterly Investor Sentiment Index poll was conducted in late September and early October. It also found that almost a third of the Canadians it surveyed say they are still on track with their investment goals. Another 37% say they’ve lost ground this year, but expect their investments will recover, while only 14% expect to never regain investment losses faced during late 2001 and 2002.

“Most Canadians are optimistic about their long-term investment goals and their future, particularly if they’ve been working closely with an experienced financial advisor through the past 12 months,” said Bruce Gordon, executive vice president of Canadian operations for Manulife Financial, in a news release.

“Through three years’ of polling, we know that Canadians traditionally lean toward ‘safer’ places to invest — and that’s particularly true in light of recent market events reflecting corporate governance cases affecting equity markets.”

When asked if they feel the stock market will improve in the year ahead, 41% agreed, while 27% expect it to remain the same. Only 22% predicted markets would decline.

Mr. Gordon said the latest survey reflects recent concerns raised by cases such as Enron and WorldCom, despite considerable strength in the overall Canadian economy.
The Manulife Investor Sentiment Index is based on a survey of 1,004 Canadians and was conducted by Thompson Lightstone & Company. The index fell nine points to +14, its lowest point in three years. The quarterly index monitors how Canadians feel about 10 different investment categories and vehicles. The index reflects the percentage of those surveyed who say they believe it is a good or very good time to invest — minus the percentage who say it is a bad or very bad time.