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In 2022 defense was the best offense

2022 continues to be a challenging year—but it’s not all bad news.

• Specific economic signals appear to be bottoming, although off low levels.
• Equity valuations are now at more reasonable levels than earlier in the year.
• Bond yields have become much more attractive.
• Many markets experienced a strong October rally, trimming the year’s losses to varying degrees. 

Although interest rates are likely to rise further, the Empire Life Investments team believes we are closer to the end of the current hiking cycle than the beginning, particularly in Canada.

Paul Holba, CIO, discusses how the team’s positioning of their investment strategies reflect their cautious view of the market environment—at a very high level, this is best described as being defensive. Gain deeper insights into where the team is seeing opportunities, how they’re positioning the funds to capitalize on them, and how a cautious strategy is working well so far. 

Empire Life Investments Inc., a wholly owned-subsidiary of The Empire Life Insurance Company, is the Manager of Empire Life Mutual Funds and the Portfolio Manager of Empire Life Segregated Funds. The units of the Funds are available only in those jurisdictions where they may be lawfully offered for sale and therein only by persons permitted to sell such units. Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund and segregated fund investments. Investments are not guaranteed, their values change frequently, and past performance may not be repeated. Any amount that is allocated to a Segregated Fund is invested at the risk of the contract owner and may increase or decrease in value. A description of the key features of the individual variable insurance contract is contained in the Information Folder for the product being considered. Segregated Fund policies are issued by The Empire Life Insurance Company.

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