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Magazine Issues » April 2020

Editorial: Dawn in Shanghai

Nick-FitzpatrickWeek three of working from home. It’s going well. But this is the week that the enormity of the situation is sinking in. A close friend is now presenting symptoms of Covid-19. Another is sending me unsettling stories and videos from non-MSM while sharing his fixation on the gold price.

Fund managers have been writing with remarkable clarity, in my opinion. The mood of their prose has been largely optimistic, with much talk of an early recovery and general applause for government and central bank action. There is always a ‘but’, of course, and it centres on what happens if the ‘sombrero’ chart of infection doesn’t flatten in a way that we would like it to.

By far the best thing I’ve read, though, comes from a blog by David Wright, head of business development at Funds Europe and Funds Global Asia. He regularly does business with Asia.

“I’m delighted to share with you a conference call I had with Shanghai this morning,” he writes. “Today was their first day back in the office and it was one of the most joyous calls I’ve had this year. For them it was a return to normality and for me it was proof that this, too, will pass.”

Nick Fitzpatrick, group editor of Funds Europe

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