"I Switched to Cash When Covid Hit"

Private investor Steve O’Toole moved his pension holdings, but saw his daughter’s investment plunge in value in the height of the coronavirus crisis

Emma Simon 3 March, 2021 | 11:36AM
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Steve O’Toole, 58, sold entirely out of his equity holdings when the Covid crisis initially hit: “When Italy went into lockdown, I moved all my Sipp and Isa holdings into cash.”

Steve, who works as a training consultant in the engineering sector, has only been investing for two years, and found the potential health and economic ramifications of the pandemic alarming. He had initially used a financial adviser but later found out he could choose his own funds through an investment platform and preferred this route.

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Emma Simon

Emma Simon  is a financial journalist, specialising in investment and consumer issues, writing for Morningstar.co.uk

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