Pendal Group update on the Coronavirus (COVID-19) pandemic
As the COVID-19 pandemic continues to impact the global community, I would like to update you on the proactive measures and precautions we have taken to ensure the health and safety of our employees, while maintaining our ability to service our clients and manage our business.
Like the majority of businesses our staff are now working from home and will do so until further notice. JOHCM staff have been working from home since Monday March 16 and in Australia the majority have been working at home since Wednesday March 18.
Pendal Group has comprehensive Business Continuity Plans in place for all of our offices, allowing us to continue to operate in these types of situations. Additionally we are in regular dialogue with our core suppliers to ensure there is no disruption to services. Importantly, our fund managers have been able to continue to manage client funds and position portfolios as appropriate. This has gone very smoothly.
During this period we understand that you and your clients want to hear from your fund manager on how we are managing your funds. In light of the uncertainty and extreme volatility in the marketplace our fund managers have produced several market updates and thoughtful insights on how to navigate through these uncertain times. We have significantly increased our global communications activity to ensure clients remain informed and I encourage you to visit our Market Insights, Education and Resources page of our website for the latest information. We have also released a business update which provides information on the Group’s financial position, fund flows, investment performance and business operations. The update is available here in the Shareholders section of our website.
These are unprecedented times for all of us and the situation is changing daily. We will continue to closely monitor the local and World Health Organisation updates and practices in local jurisdictions. Where required we will take further sensible and informed action.
Lastly, but most importantly, the welfare of our staff and clients and their families is clearly uppermost in these most challenging times. Our hearts and thoughts goes out to everyone who has been directly impacted and especially those families who have had to endure the loss of loved ones. We wish you and your family the best of health.
If you have any questions or concerns, please do not hesitate to reach out to your Pendal Group contact.
Group Chief Executive Officer
This article has been prepared by Pendal Fund Services Limited (PFSL) ABN 13 161 249 332, AFSL No 431426 and the information contained within is current as at March 26, 2020. It is not to be published, or otherwise made available to any person other than the party to whom it is provided.
This article is for general information purposes only, should not be considered as a comprehensive statement on any matter and should not be relied upon as such. It has been prepared without taking into account any recipient’s personal objectives, financial situation or needs. Because of this, recipients should, before acting on this information, consider its appropriateness having regard to their individual objectives, financial situation and needs. This information is not to be regarded as a securities recommendation.
The information in this article may contain material provided by third parties, is given in good faith and has been derived from sources believed to be accurate as at its issue date. While such material is published with necessary permission, and while all reasonable care has been taken to ensure that the information in this article is complete and correct, to the maximum extent permitted by law neither PFSL nor any company in the Pendal group accepts any responsibility or liability for the accuracy or completeness of this information.
Performance figures are calculated in accordance with the Financial Services Council (FSC) standards. Performance data (post-fee) assumes reinvestment of distributions and is calculated using exit prices, net of management costs. Performance data (pre-fee) is calculated by adding back management costs to the post-fee performance. Past performance is not a reliable indicator of future performance.
Any projections contained in this article are predictive and should not be relied upon when making an investment decision or recommendation. While we have used every effort to ensure that the assumptions on which the projections are based are reasonable, the projections may be based on incorrect assumptions or may not take into account known or unknown risks and uncertainties. The actual results may differ materially from these projections.