In line with UK and South African Government advice, all Credo staff are now working remotely.
We are doing our utmost to ensure that we maintain our high levels of service during this time, however, please take note of the following:
2. Contact Us
3. Cash Receipts
4. Cash Payments
5. ISA Transfers
6. US Tax Forms
7. Share Certificates
We will continue to monitor the situation as it evolves and will issue any further communications when applicable.
In response to the coronavirus pandemic, many central banks, including the Bank of England in the UK and the Federal Reserve in the US, have cut their respective base rates significantly.
The impact of this, given that our primary custodian deduct a cash management fee, is that interest rates on client cash balances for the majority of major currencies are now negative.
For the latest rates on GBP and USD cash balances, please refer to: Cash Management & Interest Rates.
Please also speak to your Relationship Manager for applicable rates on other major currencies or if you wish to discuss cash alternatives.
Following guidance from the Financial Conduct Authority (FCA), with effect from 1st April 2020, Credo will implement the following changes to the MiFID II 10% Reporting process:
The above changes will remain in place until at least 1st October 2020, at which point the FCA will provide further guidance.
Should you wish to view your portfolio’s current holdings and/or performance, this can be done through the secure MyCredo online portal. Alternatively, please do not hesitate to contact Client Services or your Relationship Manager should you have any queries or concerns.
Credo will continue to publish updates regarding market conditions via Portfolio Pulse and our approach to the Coronavirus pandemic via our website.
With the escalation of the Coronavirus pandemic and in line with government advice in both the UK and South Africa, all Credo staff are now working remotely and as such our main and dealing telephone lines have been diverted to the appropriate teams. During this period we would appreciate it if you could use email as the primary method of communication unless you are calling someone on their direct line which are all on divert to their remote working telephone numbers. This will help us to deal with your queries in a more efficient and timely manner.
Please direct your emails to the appropriate team:
Account Opening, Payments*, Book Cost Updates, All other queries
Trade Instructions, Special Instructions (Share Class Conversion, Bed & ISA)
System Access, Group Creation, Data Portal, Training
Credo is monitoring the Coronavirus COVID-19 outbreak and continue to consider any required revisions to our existing BCP plans in light of the direct threat and evolving implications to our clients, staff and suppliers.
The majority of our staff already has remote working capabilities and we have started a rolling cycle of working from home ahead of any travel limitations or restricted access to our offices. In addition, some functions may be supported from other offices, as appropriate.
We have already had communication with our key service suppliers who are generally taking the same approach as ourselves to ensure continuity of services.
We are taking a prudent and pragmatic approach to this threat and will extend any preventative measures as required.
During this period we will be minimising all but essential face to face meetings utilising telephone or video conferencing instead.
Any further updates will be published here. Watch this space.
Please do not hesitate to contact us should you have any queries.