COVID-19: Update – WHIreland
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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 24 September 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 24 September 2020

The week to Wednesday’s close saw global stock markets give up more ground as the powerful six month rally from the March lows came to an end. Global equities fell 4.0%, led by the US which fell 4.4%. European equities gave up 4.2% and the UK market 3.2%.

With hindsight market movements can often seem ‘obvious’: After such a large rally a correction was overdue. Six months ago, as stock markets started to climb from their lows we commented that investor focus was firmly on the impact of global lockdowns, on economic activity and on how industries and companies were faring. The key questions for all were how long this would last, which companies would end up in a stronger position, how governments would finance spending and how Covid might change behaviour. What ‘shape’ would the recovery take? Would it be a V, W, U or some other shape and how volatile would markets be as assessment of this changed over time?

Six months later we can see that most sectors of the global economy have experienced a sharp V shaped recovery from the extreme lows of the second quarter, a period when some travel and leisure related businesses saw activity fall close to zero. Given the unprecedented scale of the slowdown this much was to be expected, and the general rise in stock markets as money flowed back in, predictable.

While national lockdowns for Covid are likely a thing of the past the concepts of lockdown, wearing masks and changing individual behaviour in order to reduce the spread of disease are now embedded in the West in the same way they were in Asia during the 2003 response to SARS. We need to get used to them, not over-react when we see them. The probability of approving a vaccine this year and being able to distribute it widely were low to start with and fall day by day. Where we find ourselves now is no surprise: Covid will remain a drag on global economic recovery long into 2021.

For some industries the outlook is bleak in the short term, particularly for companies that entered the downturn with much debt on the balance sheet. But while the short-term outlook may have darkened, the point where life returns to normal continues to get closer.

The long-term outlook is little changed.

Contact form

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