Looking Back on 2020
The extreme social and economic disruption of 2020 have reminded us at BWP of what matters most, and as a result we have placed an even greater emphasis on the importance of one’s overall health and wellbeing of which finances are an important element. We owe a great debt of gratitude to the health professionals who have been in the front line with an ongoing wartime like effort against this dreadful pandemic. The governments and central banks have taken dramatic steps in these unchartered waters to support consumer and business incomes in the most impacted sectors through this period until those that survive can become self-sufficient again.
At BWP we have continued to place our clients at the centre of our business in looking after their best interests. We have been resilient and flexible coping with the organisational changes having to adapt our working practices with these new circumstances. At some stage we will get back to more face-to-face engagement, which we prefer, while retaining the efficiencies that the remote digital environment brings with video conferencing now becoming more mainstream. It is Amara’s Law that we tend to overestimate the effect of technology in the short term and underestimate it in the long term. This pandemic has, like in wartime, accelerated some technological progress.
With some sense of pride at BWP our culture, our style and our robust business and investment philosophy has more than withstood the stress testing and has been validated and we have added ongoing value for our clients at every step as we move forward. Team Bennett are stronger for the experience.
Looking Forward on 2021
We look forward to 2021 with a degree of optimism with the “known knowns” and hope for some sort of “bounce back”. We have now had positive news of successful vaccines and now, at last, more certainty concerning BREXIT. These should provide the turning point for a more positive 2021 to evolve; but it will take time for the business and social environment to recover and improve to whatever the “new normal” will become.
Key Themes for 2020/21
We believe that progress and prosperity are driven by private innovation and enterprise. This current crisis should prompt society to make significant improvements going forward. We are conscious of the importance of biotech, healthcare, and life sciences firms. We are cognisant of and integrating into our total return investment philosophy the best-in-class aspects of environmental, social and governance (ESG), ethical, sustainability, impact investing and climate change.
So, we hope you have a more positive, safe, healthy, and prosperous 2021!
Barry, Karen, Simon, Natasha & Henry