COVID-19: Update – WHIreland

COVID-19: Update

A message to our valued clients

The rapid spread of COVID-19 is of course causing major disruption for all of us, and we wanted to update you with the steps we are taking to ensure that our service to you remains as unaffected as possible.

Last updated 1 April 2020

An update on our contingency plans

Our main priority is to our clients and our staff, and we plan to maintain business as usual during this time. All of our staff have the resources & technology available to continue to work as usual from home, however we may not be able to carry out some activities as quickly as we might like due to staff shortages. We will continue to release updates on this page, which can be reached at any time by visiting whirelandplc.com/coronavirus.

There is likely to be delays in postal systems, and we recommend that money transfers are completed electronically rather than sending cheques. Information on our bank details for doing this is available here.

For clients of our wealth management division, you can login to our client portal to view up-to-date performance of your portfolio here. If you are not already registered, you can request access here.

Contacting us

We will always be available to help, and the best way of contacting us is via email. If you know the email address of your usual WHIreland contact, please use that. If you don’t, please email enquiries@whirelandplc.com, or use our online contact form available below.

Although we may not be able to conduct face-to-face meetings, our staff will be available to speak with you by email and phone.

 

Our latest views on world markets

Last updated 1 April 2020

The week to Tuesday’s close saw equity markets continue their recovery from March’s lows, led by the US S&P 500 Index which saw a gain of 4.4%.  Closer to home the UK FTSE 100 Index rose 1.9% and the FTSE 250 Index of medium sized companies 3.3%.  Coincidentally Tuesday also marked the close of the first quarter with the US closing down 20% and the FTSE 100 Index 24.8% lower over the period. Typical diversified portfolios, those that include fixed interest and alternative assets, have fared considerably better but there is no hiding the short-term cost of protecting the elderly and vulnerable.

Predictably, investor focus remains firmly on the impact of global lock down on economic activity and how industries and companies are faring. The key questions for all are how long it will last, which companies will end up in a stronger position, how governments will finance spending and how this event might change behaviour. While it is impossible to provide an accurate answer to any of these questions it is possible to take a medium-term view that at some point, quite soon, we will transition from being led by urgent medical need back to economic need and see that reflected positively in share prices.

We enter the second quarter expecting further turmoil as uncertainty continues, with stock markets potentially testing recent lows – a behaviour we frequently see when markets are under stress. Medical resources and capacity are building rapidly and as they do governments will increasingly focus on the need to avoid permanent damage to their economies, finances and citizen’s confidence in them.  Notwithstanding our expectation of turmoil in the short-term, we expect equity markets to end the second quarter in a better position than at the start.

Contact form

If you need to reach us, and don’t know the email address of your usual WHIreland contact, please use this form.