As of March 16, 2020, BLI deployed a new phase of its business continuity plan. Since that date, the majority of BLI's employees (including management teams) have been working remotely. The technical working environment is similar to the one available at the office and allows the continuity of the different activities. A limited number of employees (always the same persons) are on duty on the premises in compliance with the rules of social distancing. BLI's Management Committee meets via videoconference twice a week to closely follow the current crisis situation but also to cover development issues and the daily life of the company. Regular communications are made to the different teams of BLI that are also organising regular conference calls to keep the contact, discuss daily workflow and continue to work on common projects. Regular communications are made to employees. In addition, consistency between the measures applied within BLI and those applied within our parent company, Banque de Luxembourg, is ensured.

Initial Plan – March 2020

Aware of the impact that the current health crisis may have on the continuity of its business, BLI has activated its emergency plan with the primary objective of protecting the interests of its investors and employees.

More specifically, the following measures have been taken :

• Activation of the BCP which provides for the continuity of all key activities such as portfolio management within the backup / crisis center or in the form of homeworking. The presence of the team in the office is strictly limited; homeworking is currently favoured. The remote access have been granted allowing each employee to have access to all his or her portfolio management tools.
• Conference calls are organised on a daily basis by the Crisis Management group (gathering representatives of the Board of Directors, of the investment teams and of Risk & Compliance, Legal and Corporate Communication departments) to ensure a rapid response to the latest developments in the epidemic and the recommendations of the authorities.
• Meetings between employees are kept to an absolute minimum. Whenever possible, conference or video calls are preferred.
• All business trips and areas affected by the virus have been prohibited.
• Business trips outside these areas are subject to the approval of the immediate supervisor.
• If employees wish to travel to affected areas for personal reasons, they are subject to a mandatory 14-days quarantine period upon their return.
• All events and activities planned until mid-April have been cancelled or postponed.
• A crisis communication plan has been defined in order to ensure adequate communication on the portfolios’ behaviour (performances, positioning, etc.) is provided to investors and clients.

The contingency plan and all related measures are constantly updated and adapted in order to take into account the latest developments and to be able to adapt, if necessary, the arrangements made so far.

We would like to assure you that BLI – Banque de Luxembourg Investments S.A., is doing everything possible to manage this exceptional situation in the best possible way and to ensure the preservation of the capital entrusted by its clients, while at the same time ensuring the safety of its employees.

Guy Wagner

Managing Director BLI - Banque de Luxembourg Investments S.A.