Lowes Magazine Issue 116

SP ‘Preferred’ plan maturities THE EFFECT OF THE PROLONGED CORONAVIRUS CRISIS on the markets was reflected in the structured product maturities this quarter. The third quarter of 2020 saw 12 structured products held by Lowes clients reach maturity. All provided the valuable benefit of protecting capital from market falls, in some cases against single and double digit negative performance in their respective indices. Two ‘preferred’ products delivered very impressive results, outperforming the Eurostoxx 50 Index by a factor of 10 and 12. All the autocall or kick-out contracts that had the potential to mature during the quarter saw their maturity deferred until next, or subsequent years. This rolls over the potential gains, meaning the opportunity to outperform the markets improves with each year that passes. The table shows the performance of the Lowes ‘Preferred’ structured products held by Lowes clients that matured in the third quarter of 2020. All maturities were fixed, six-year term products.

Spotlight on Lowes staff

THIS ISSUE WE SAY A HAPPY RETIREMENT TO TWO OF THE longest serving members of the Lowes family, Brenda Joyce and Marilyn Clark, who will be known to so many Lowes clients. Brenda

Brenda has been the familiar face on Lowes reception for 28 years. Over that time she has seen many changes. “When I started there were less than 30 people in the firm, now there are nearly 100.” What has kept her working at Lowes, she says, is the people, both staff and clients. “We talk about Lowes being a family and it’s true. We are very close and everyone is so friendly. It’s been a lovely place to work.

Brenda Joyce

“On my 70th birthday I walked through the door to reception as usual and started chatting to a colleague and when I turned around I couldn’t believe it, my desk was covered in balloons. It really made my day.” Had Covid not happened, Brenda says that she might have carried on working part-time for longer but with the health risk and the fact that currently there seems no-end in sight to the crisis, taking retirement was the sensible decision. “I’ve been working since I was 15, in a number of different jobs in my time, but I can truly say Lowes is the best job I’ve ever had. I shall miss everyone at Lowes, all the staff and all the clients. But I’m hoping I’ll be invited back to some of the staff events so I can catch up with everyone from time to time.” Now she is looking forward to doing things around the house, taking days out and travelling to her favourite holiday destination of 15 years, Tenerife, when it is once again safe to do so. Marilyn Nine years ago Marilyn fell ill; diagnosed with incurable cancer. Not only did she confound that diagnosis but she came back to work at Lowes. “Rod kept my job open for me, for nearly two years, for which I am very grateful,” she says. When Rod retired, Marilyn began working for Gershom Chan and Chris Milsom. “When Gershom and Chris took over advising Rod’s clients, having me as a familiar face and having the knowledge of all the clients, I think helped make the transition as smooth as possible for everyone.” Like Brenda, Marilyn says if it had not been for Covid she would have continued working. “The job was full of variety; every day was different. I’m going to miss the camaraderie and meeting and talking to clients, some of whom became friends. It is the personal contact I loved and shall miss most about the job.” Travelling and “enjoying life” with her husband is how Marilyn intends to spend her retirement. Always smartly dressed for the office, she says she will be “hanging up my stilettos for my Timberland boots!” Marilyn Clark By coincidence, Marilyn also started work at Lowes on reception, 25 years ago. She then moved to the accounts department until Rod Molyneux was looking for a secretary, when she put herself forward for the role. “I worked with Rod for over 20 years until he retired in 2019. We made a good team,” she says.

Plan Gain

Provider Maturity date Underlying Underlying change

Societe Generale 27/07/20 FTSE 100 -7.68% 0% 1

Morgan Stanley Morgan Stanley

29/07/20 FTSE 100 -6.23% 0% 1

29/07/20 FTSE 100 -6.23% 13%

0%

Gilliat

05/08/20 3 Shares -47.12% 2

Meteor

10/08/20 Euro Stoxx 50

4.03% 40.27%

Societe Generale 10/08/20 FTSE 100 -7.87% 0% Investec 02/09/20 Euro Stoxx 50 4.95% 60% Focus 04/09/20 FTSE 100 -11.45% 0%

Morgan Stanley Morgan Stanley

16/09/20 FTSE 100 -13.01% 0% 1

16/09/20 FTSE 100 -13.01% 0%

Societe Generale 21/09/20 FTSE 100 -15.12% 0% Meteor 28/09/20 Euro Stoxx 50 2.53% 3.79%

1 Deposit. 2 Worst perfoming share - Barclays. All plans were fixed six-year term products.

5 6 4 8 7 1 2 3 9 2 7 1 3 4 9 5 8 6 9 3 8 6 5 2 7 4 1 3 1 7 9 2 4 8 6 5 8 2 5 7 1 6 3 9 4 6 4 9 5 8 3 1 7 2 1 5 3 4 6 8 9 2 7 7 8 6 2 9 5 4 1 3 4 9 2 1 3 7 6 5 8 Grid n°4942 hard

Sudoku solution We hope you enjoyed the Sudoku puzzle we published on page 3 of this issue of the Lowes magazine. Here is the solution to the grid.

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