COVID AS CATALYST – MARTIN HESSE
While I wouldn’t wish another 2020 on my worst enemy, there have been some positive aspects to the pandemic. Commentators in various fields refer to how the lockdowns acted as a catalyst in accelerating trends, largely driven by technology, that had begun well before Covid-19. Two in particular come to mind: the shift to e-commerce and the work-from-home phenomenon.
These shifts precipitated fundamental change in the commercial and residential property markets, although other factors, such as the lowering of interest rates, also played a role.
The commercial property sector – particularly office and retail space – suffered a huge knock and is now searching for ways to reinvent itself. On the other hand, residential property in sought after areas boomed once the restrictions on estate agents were eased. Alan Duggan explores these trends in his thoroughly researched article on page 17.
A huge but massively under-reported and under-appreciated trend in the past decade or so has been the growth of online learning. Here too the pandemic has provided a welcome boost.
For thousands of people with access to the internet, completing a course online was a productive way of spending time during lockdown. Anna Rich’s story on page 7 emphasises how easy and affordable it is to better yourself, no matter how humble your background and no matter how old you are.
So much for the positives. One of the darkest stories to come out of the pandemic is the collective legal battle hundreds of small businesses in many different countries are having with their insurers on claims for business interruption cover. In a sea of inflamed passions, specialist insurance writer Gareth Stokes takes a cool, objective and balanced view of the saga – on page 12.
Also in this issue: learn about commodities, crypto, beneficiary funds and the financial implications of dog bites. Oh, and there’s the amazing performance of the Old Mutual Gold Fund.
Enjoy the read. https://bit.ly/IOL_PF_4thQrt2020
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