As the credit crisis deepens following the bail-out of fi nancial institutions around the world, markets are trying to determine the long-term effects on the economy. Governments, meanwhile, are likely to embrace further measures to shore up the global fi nancial system and help restore confi dence. This may take time, however, as house prices in the US need to stabilise and the debt markets re-open. Amid such conditions, we expect volatility to continue.It is typically in such uncertain times, however, that the foundations are laid for sound, longterm investment. While earnings downgrades, profi t warnings and dividend cuts are likely in many sectors, corporate balance sheets generally remain in reasonable shape. There are still plenty of well-managed companies that should be able to grow their dividends, an important component of investors' total returns.Being able to buy these companies' shares on yields of some 4% to 6%, combined with the potential for capital growth over the long term, looks signifi cantly more attractive than the returns investors can get from various other asset classes. This is especially true in the wake of interest rate cuts, which reduce income earned on deposit.In the weeks and months to come, I believe we will see a return to back to basics investing as more stable markets lead to improved sentiment towards equities. Over the long term, the potential for strong returns from the Fund's holdings remains good.