At Brite Advisors USA, we continue to monitor the COVID-19 situation and remain fully operational.
As we all collectively navigate the global challenges caused by the COVID-19 outbreak, please note that our priority is to continue our long-standing commitment to our clients and to provide a robust service while protecting the health and safety of our employees.
We have developed a business continuity plan that we are deploying in order to ensure there are no interruptions in the service we provide to you. We are also liaising with our third-party vendors to ensure they have undertaken the necessary steps to continue uninterrupted service.
We are confident that our activities will not be adversely impacted and we will continue to update our business continuity plan to account for the challenges presented by COVID-19 and the needs of our clients.
How is the current situation affecting your portfolio?
The world economy faces one of its biggest challenges in years, with the COVID-19 outbreak and a price shock in the oil market. Although diversified, our portfolios aren’t immune to the effects of current volatility, so we want to provide you with some context to the current events.
Equity markets have officially entered bear market territory with major equity indices declining more than 20% from recent highs. Capital markets have been very volatile as the global economy has suffered major disruption by temporary country-wide and community shutdowns. Equity and bond markets attempt to price in the uncertainty of the impact on the global economy and corporate earnings. Some industries will be impacted more than others.
Now, more than ever is a time for investor prudence and we remain focused on long-term returns, cost reduction and ensuring that risk levels are appropriate to your personal circumstances. Our investment advisors continue to monitor the volatility in the markets and will continue to support you.
In this difficult time, the safety and well-being of our employees, clients and communities remain our highest priority. We would like to express our sincere gratitude to our health care professionals who evidence extraordinary courage and bravery as they continue to remain on the front line of this health crisis.
On behalf of the entire Brite USA team, please stay safe and please do not hesitate to contact us with any questions. We look forward to continuing to service you.
Martin Byrne, CEO