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Sunday’s Money pages

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Unsurprisingly, Covid-19 looms large everywhere in the press this weekend, including in the Money pages.

The Mail on Sunday offers advice on savings protection in turbulent times: as investors in index-trackers are hit hard, the paper shows how active funds can help weather the storm.

They report that a savings bonfire has begun after the base rate cut: noting that the top deals have ALL gone up in smoke, they ask where is the best place to put cash now?

The story “Virus exposes the zombies: before the crisis is over there will be many more corporate casualties” examines why the current crash feels very different to those of the past. Even though the fallout from the 2008 banking crisis devastated incomes, it was not a matter of life and death in the Western democracies.

The Sunday Times tells us that more than £26bn has been withdrawn from so-called absolute return funds — investments specifically designed to protect savers from market shocks — amid growing evidence that they are failing to do just that, as the FTSE 100 endured its worst crash since 1987.

They are also telling investors that stock market crash alerts might panic them into selling, saying “if you have received a message from your wealth management firm telling you about a big drop in the value of your investment portfolio, you might be wondering why.”

The paper invites its readers to meet the ISA millionaires — and learn how they can join the club, revealing that a thousand people have seven‑figure ISAs, which they’ve kept saving into through the financial crisis to the coronavirus dip.

The Sunday Telegraph tells the tale of a freelancer whose monthly income has already fallen by 75% since the start of the coronavirus outbreak, due to falling demand from clients. Self-employed people who have to self-isolate or take time off work are even more at risk.

They report the plea to banks to suspend ‘penal’ overdraft charges while customers battle coronavirus; it seems some banking customers will be charged 50pc interest for straying into their overdrafts.

With Asia, Britain and technology among the top ISA picks for fund managers, the paper shows where the experts invest their ISAs.

Look after yourselves and don’t be afraid to self-isolate.

“People with a sense of humour tend to be less egocentric and more realistic in their view of the world and more humble in moments of success and less defeated in times of travail.” (Bob Newhart)

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