Good afternoon – It is March 18th and we would like to provide further update to the ongoing COVID-19 developments and our actions and strategies. It is our intention to continue these missives every few days in order to keep as many people as possible informed. We hope you find them helpful.
We continue to move toward a fully remote environment and as of end of business today expect that all team members will be functioning from home offices. The office lines will be forwarded to mobile phones at this time. The team has a daily briefing set up at 10:15 each morning to ensure that all regular activities continue to function as normally as possible. Should it be required…we will have someone in the office.
We have been actively working to review every individual holding in our portfolios. This entails watching for signs of weakening dividend coverage and making changes accordingly. We are also looking for opportunity in the form of yield and companies that we believe will lead us out of this correction when the COVID-19 crisis begins to pass. To date we have made small changes to both the US & Canadian equity strategies and are today turning our efforts to fixed income reviews and opportunities. Please know that this activity will continue for as long as necessary to ensure that we remain fully satisfied with the portfolio construction.
Lastly, as a reminder we have built out all investment policies with full income coverage generally intact for 3 years. If you are retired and using your investments to assist with retirement income – we are prepared. We do not recommend or expect any income interruption.
Joanne & Alan and the Livingston MacDonald Wealth Management Team