Humans are hardwired to find comfort in clarity and to shy away from uncertainty. COVID-19 is a global issue, but here in the UK we have plenty of our own challenges to add to the worry list, from Brexit to ballooning Government debt.

This combination of international and domestic concerns has led to the FTSE 100 being the worst performing major global stock market this year by some margin and a rush for the door, as we have seen billions of pounds flow out of UK funds this year (thankfully not our UK fund so far - thank you loyal clients, we appreciate this hugely).

Do not despair! Who better to look to for solace in at time like this than to the District Attorney of Gotham City – the man brave enough to take on the caped crusader:

“The night is darkest just before the dawn. And I promise you, the dawn is coming.” - Harvey Dent, The Dark Knight

History tells us that the best investment returns are made by those who are proactive in times of peak uncertainty - those that dared to pop their heads above the trenches in 1929, 1987, 2000, 2009, etc., had the opportunity to buy shares in some wonderful businesses at more than reasonable prices. We are looking to do the same now. We certainly cannot tell you when we will be able to move on from COVID-19, but we are confident that in time we will and that investors who remain prudent and patient through the depths of 2020 will be rewarded in time.