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Canadian investors appear to be a pretty cool-headed lot, with half saying they have remained calm through the latest market volatility and sticking to their long-term investment plan.

A survey commissioned by CIBC found 51% said they were adhering to a buy-and-hold philosophy. That roughly matches the 53% who said they were investing for the long term.

Another 29% said they “worry a little” about their investments, admitting they checked up on their portfolios’ performance more frequently, but still said they were not making any immediate changes. Eleven percent said they were making adjustments to their portfolio.

“These poll findings confirm that many Canadians are willing to manage through short term market fluctuations knowing they have a longer term goal in mind,” says Christina Kramer, executive vice-president, retail distribution and channel strategy, CIBC. “While there are a number of investors who keep a closer eye on their investments in volatile markets, most Canadians do not make quick decisions about their investments during short term market declines.”

Two thirds of respondents between the age of 25 and 54 said they were long-term oriented, compared to only 35% of those 55 to 64. This older cohort was more likely to be focused on medium term goals (41%).  Only 28% of those over 65 considered themselves long-term focused, while 30% were medium term investors.

“One of the benefits of having mapped out an investing strategy with an advisor is that you have a strong sense of direction over the long term, which better positions you to manage through short term volatility,” says Kramer. “Working with an advisor also gives you a third party to consult if you have concerns about the current market environment and to gain some perspective on your progress towards your long term goals.”

Originally published on Advisor.ca