it is  important to bear in mind that most of the investment issues (good and bad) that we discussed before we had heard of Covid-19 are still with us. Similarly, the issues that savers faced before Covid-19 also remain, and in many cases have been exacerbated by the economic and societal effects of the virus so far. The low interest rates that have penalized savers for years are still with us and lower expectations for long-term investment returns still leave a mismatch for many, between the expectations of retirement benefits and likely investment reality. In this environment, the asset management industry must innovate in response to these lower expected returns. Diversification remains vital, multi-asset solutions are crucial, and costs must be kept low — so that a higher proportion of investors’ money is actually working for their futures rather than risking the real-terms erosion that’s currently on offer from the banks.