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The coronavirus crisis is an era defining event; life before coronavirus and life afterwards. Above all it is a humanitarian crisis on an epic scale, the speed of its destruction fully illustrated by its spread. It has delivered an economic shock and market declines with a speed and severity unprecedented in modern times. However, the free fall in markets was stopped when the Federal Reserve and other big central banks stepped in with massive support packages and as a result markets rallied sharply from the late March lows.

The recovery in markets which started in late March, following the massive interventions of the Federal Reserve in the US, and other major central banks, continued through April. This huge monetary stimulus, a combination of interest rate cuts (the only central banks not to cut have been those with rates
already at or below zero) together with asset purchases on a scale never before seen, unlimited in the case of the Fed, ECB and Bank of Japan, averted a deep and sudden shock to economic activity from triggering a systemic financial and liquidity crisis. Liquidity, funding and credit stresses eased rapidly and have largely normalised in the past month.

Commission / Acceptance

• OMI/Quilter – 3%
• FPI – 3%
• Utmost – 2%
• Ardan – 4.5%
• Providence – 4.5%
• Hansard – 4.5%

ISIN: XS2121689983

Please confirm to admin@npdistribution.net when trades have been placed

An opportunity to offer clients a fixed quarterly dividend of 2%** for 3.5 years linked to some of the best performing and best known companies in the world.

Financial losses come in many shapes and forms and investors rightly spend a considerable amount of time worrying about them but managing loss aversion poorly can make the long-term outcome even worse. It is important to pick the right battles, to trade off cost of protection with loss severity and to not lose sight of the ultimate investment goals.

Bonds, issued by both governments and corporates, will always have a significant role to play in multi-asset portfolios due to their inherent stability and reliable cash flows, which provide much needed balance for other riskier positions. However, recent developments spurred on by the COVID-19 crisis should prompt investors to consider deemphasising the focus on government bonds from this point and increasing allocations to corporate credit.

Bonds, issued by both governments and corporates, will always have a significant role to play in multi-asset portfolios due to their inherent stability and reliable cash flows, which provide much needed balance for other riskier positions. However, recent developments spurred on by the COVID-19 crisis should prompt investors to consider deemphasising the focus on government bonds from this point and increasing allocations to corporate credit.