The outbreak of COVID-19 and resulting shutdown of large parts of the economy has brought challenges to financial markets, to the way we work and to the companies we invest in.
But despite these challenges, we would like to reassure all stakeholders that we are continuing to operate a normal service. As long-term responsible investors with expertise in risk management, we are well placed to weather the current storm. And as defined benefit schemes, LGPS pensions are not impacted by short term market events.
We are working with our managers and material holdings to understand the impacts of the crisis and develop evidence-based responses to ensure the resilience of our portfolios. At the same time we are maintaining a focus on long-term horizons and continuing our work to build a more sustainable and resilient financial system.
These are uncertain times. But we are committed to working in partnership with our client funds, managers and the wider investment industry to manage risks and protect the long-term interests of our beneficiaries.