Further to our first Coronavirus / Covid-19 update on February 28, we would like to provide an update on our current policies and procedures.

First, we have cancelled all international business travel (onsite meetings with investment managers and inter office travel). This reflects both our own view of the risks of the virus and, more practically, the decision by our health insurer, Empire Life, to remove coverage for Covid-19 from our business travel health insurance policy. Interestingly (and this may impact your own organization) we had to call the insurer for them to tell us – they did not provide any notification to us of this change in the terms of their insurance coverage.

Second, we have adopted a range of policies across our business – the text below is from Chris Addy’s email (our CEO) to everyone at Castle Hall earlier today. Our firm has gone beyond the level of preparedness we’re currently seeing at many asset managers based on the many emails we’re receiving. We think that the situation is extremely serious and that work from home / quarantine will be the new normal within the next 2-4 weeks. We would be happy to be proved wrong – but as always, our motto is to hope for the best, but plan for the worst!

• Over the next week, Castle Hall will co-ordinate office by office work from home exercises. For one day next week, all staff from each office will be asked to concurrently work from home.
• It is our expectation that it is more likely than not that Castle Hall will move to a 100% work from basis by March 31. We will, however, continue to monitor the situation carefully – there is no need to panic, but the firm will equally always act with an abundance of caution. We would much rather that everyone at Castle Hall is perhaps inconvenienced but healthy, as compared to being complacent and one of us catches the virus in a way which could have been prevented.
• Any staff member who prefers to work from home rather than come to the office can do so; please let your supervisor know.
• Castle Hall will waive sick leave limits for any staff who personally test positive or where a member of your family at the same address tests positive.
• We will introduce a range of work from home guidelines following travel. Please note we are not mandating self quarantine, although you may wish to adopt self quarantine procedures by your own choice.

1. If you are travelling overseas for vacation, please notify your supervisor as to which country(ies) you will be visiting.
2. When you return from overseas, please work from home for the next 2 weeks. Of course, do not return to the office if you display any signs of sickness at the end of that 14 days, and seek medical assistance at the first sign of any symptoms during that period.
3. If anyone in your family (or one of your housemates) travels outside the country, please also work from home for the next 2 weeks. Please also notify your supervisor as to the countries which are involved.

And finally – our tech team already has a solution lined up if our industry is subject to a lengthy work from home period: see https://www.doublerobotics.com !!!

As always, we welcome your feedback and suggestions across any element of the due diligence process. Please don't hesitate to use the live chat function on the Castle Hall website or email / call Marice Young and her client support team if we can help in any way.

The Castle Hall Team.