Split Share Funds Year-End Report—2020
As has been well documented, in 2020 the economy experienced conditions not seen in over a century. Lockdowns and Coronavirus Disease (COVID-19) containment measures led to a sudden economic halt worldwide. Global demand plummeted as businesses shut down and unemployment rates quickly accelerated. Similarly, equity markets faced a highly challenging environment. The S&P/TSX Composite Index lost over 20% of its value within two months, followed by gains of 16% by the end of the second quarter, marking the sharpest and fastest turnaround on record. The year finished with a modest 2.17% annual gain.
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