We can report that nearly 95% of Loomis Sayles employees worldwide are now working from home. Our work from home test on March 6 and the rollout beginning March 13 have reinforced our confidence in our capacity to effectively support our clients while working remotely. At this early stage, there has been no negative impact to investment management, risk management, trading, compliance, investment operations or client service.
For those select positions that require a physical presence in the office, we are closely tracking attendance to support social distancing. We are also encouraging those employees to refrain from taking public transit, which we are supporting by reimbursing for parking or alternative modes of transportation.
We are especially grateful to our technology teams for their incredible efforts to support and implement the innovative solutions required in such a rapid transition. The Loomis Sayles global workforce has embraced this challenge and brought a can-do attitude and the requisite patience, all while balancing the personal challenges this crisis has created.
Here in the US, we are seeing monetary and fiscal action on a federal level, as well as increasing guidance from state and local governments. The business community must also play a leading role. We are acutely aware that flattening the incident curve is critical to our public health, our hospitals and our communities. Only through social distancing can we suppress the exponential reach of this virus and help prevent our healthcare system from being overwhelmed.
The extraordinary circumstances created by this pandemic will continue to challenge us, but we are wholly committed to superior service for our clients as they deal with not just the turbulent markets but also the many personal challenges we will all face. Please hold us to the highest standards as we work through these challenges together.
We will continue to strive to be very transparent throughout the coming weeks and you can expect regular updates from me, our research teams and our investment professionals.
Wishing you, your colleagues and family good health.
Kevin P. Charleston
Chairman & CEO
