A personal message by Caroline Anstee, Managing Director of Anstee & Co.
Following our coronavirus update last week, I just wanted to send a personal message at this difficult and worrying time.
As you know I have been in this industry a long time and I have therefore experienced many stock market crashes. Each one has brought its challenges and in particular 2008 when it happened so suddenly.
What we are facing now is unknown territory for everybody. We are not just concerned about our investments we are worried about our food shopping, social engagements that are cancelling, cancellations of holidays and worry about family members trapped overseas and more importantly the health of our families.
Most of my team are now working from home and wherever possible holding meetings remotely by teleconferencing or facetime and communicating mainly by email and phone. To us is it ‘business as usual’ just in a different way.
I want to reassure you that all the investment houses we work with are working very hard to read the markets day by day, hour by hour and make decisions on your behalf. We are in constant touch with them. A quote from one of them-
“The pandemic is clearly a scenario that none of us has witnessed before. Governments, their citizens and obviously investors are struggling to assess and react to what is a fast-moving situation. Markets, as I will have said to you on many occasions, hate uncertainty more than anything and with the ‘knowledge gap’ around the impact and timeline of the pandemic many investors have assumed an absolute worst-case scenario in my opinion”.
It is legislation now that companies send you a notification if your investment (not including pensions) drops by more than 10% in any quarter. Some of you will have received these already, maybe more than one. I’m advised when these are sent therefore aware of your situation. I know it is easy for me to say but sit tight is everyone’s recommendation at the moment.
I have a great team and everyone is here to support and help you. Please contact your adviser or the office directly if you have any concerns personally but please bear with us if we don’t answer your calls or emails straight away.
Managing Director of Anstee & Co. Ltd