As the face of insurer eSure, film director and TV commercial wallah Michael Winner perennially urges views to “calm down” in the face of accidents. Now, in the face of a European meltdown, US asset manager Vanguard is advising clients to sit on their hands, don’t do anything rash and don’t invest in absolute return strategies.

In a note published today, Jeff Molitor, European chief investment officer of Vanguard Asset Management, recommended that investors do not panic and avoid hastily restructuring their portfolios due to the increased volatility and risk in the market.