| 04 March 2020 Hi everyone, Share markets around the world are turning downward, reverberating from escalating fears about COVID-19. The ASX fell almost 10 per cent last week, wiping about $210 billion off the value of the ASX 200. However at the time of writing, the ASX appears to have steadied, following the resumption of trade in Chinese markets. At times like these the only certainty is greater periods of volatility – both down and up. It is during these sharp market moves when "staying the course" can be the most challenging, but most important. In volatile times, investing can feel similar to riding an uncontrollable emotional rollercoaster. But abandoning a long-term plan can cause even greater harm. To be clear, "staying the course" will not insure you from the strong fluctuations in the value of your investments. But it's what keeps you in position to benefit when a challenging period passes. It is also at times like these when the experience and stewardship of a financial adviser is particularly valuable to clients. Because left alone we sometimes make choices that impair returns and put at risk the ability to achieve our long-term objectives. We've republished an article on sequencing risk, as a reminder of the steps you can take to curb the effects of volatility on your retirement portfolio. Tony Kaye has written an article on the infrequently mentioned topic of superannuation contributions splitting and why couples should work together on their superannuation rather than separately. We also revisit a previously published video on investing for retirement. As always, feel free to email us with your questions or feedback. Until next week. 
Robin Bowerman
Head of Corporate Affairs
Vanguard Australia
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