The coronavirus outbreak is having an increasingly significant impact, on both our economy and our day-to-day lives.
We will be posting updates on our website during the forthcoming weeks, so please have a browse from time to time.
In these circumstances, I feel it is very important you know that we recognise the current sharp falls in equity markets can be very worrying. We are continuing to monitor the markets working tirelessly to continue to support you our clients.
Our role is to serve you by designing a financial strategy that helps you achieve your long-term objectives, while adapting as events unfold to support or challenge that approach. Current events and their impact on investment performance may be dramatic, but they will not impede the work we do on your behalf. We have seen highly volatile markets before, and we will see them again; it is at times like these that we believe our experience will be at its most valuable.
It may be prudent that if you are currently take an income from your investment, and this is not needed to cover your day to day expenses, you consider stopping this process until the markets start to recover. The rationale behind this is that more units are sold to cover the income payment now, thus leaving less units available for growth when the markets recover. An ad-hoc payment can be taken to cover these amounts at a later date as we see an upturn in the market resulting in less units being sold.
In response to the virus, providers will need to make some adjustments to how they run their business over the coming weeks, to ensure they are available to serve us all. In particular, most of them are making arrangements for many of their staff to work remotely. They already have the technology to make this possible, and many do it regularly as a matter of course. Many plans are currently being deployed to maintain the services they provide.
Over time, we have weathered many market corrections and we will weather this one with you. We remain open for business, confident that even with a correction as deep as this one, the markets will bounce back given time.
In the meantime, I hope that you remain safe in the coming weeks and months.