MARCH 23 - 27 MIDWEEK UPDATE
March 25, 2020 - Your mission is important. Our mission is to serve yours. As your financial partner, we want to help you navigate this uncertain time by keeping you updated and informed. Thank you for your continued trust and support as we work with your mission in mind.
Late Sunday evening, Dallas County enacted a new shelter-in-place order for all residents and businesses, except select essential businesses, through at least April 3, 2020. With this in mind, we will continue to service our clients remotely, with minimum staff at our office location.
We Continue To Focus On:
- Actively monitoring the assets entrusted to us so you can continue to focus your attention on the care of your mission, as well as staff and family
- Anticipating the needs of our clients as business operations may become strained in the coming month due to economic difficulties
- The health and safety of our HighGround family
- Entering into 2020, we expected modest positive recovery in the global economy and markets. Now with the uncertainty surrounding the continued spread of COVID-19, we are facing a global recession. However, we are hopeful that maximum disruption will be constrained to the second quarter.
- At the close of business yesterday (03/24/20), the S&P 500 index was down 23.9% year-to-date.
- In contrast, HighGround’s Capstone Endowment Fund, one of our three predesigned endowment solutions, was down 13% year-to-date, demonstrating the advantages of strong diversification during short-term market disruptions.
- The market rebounded over 9% yesterday and is currently up over 4% today on an anticipated $2 trillion coronavirus stimulus bill that will flood the U.S. economy with needed financial support to stabilize households and businesses.
Navigating Volatile Markets: We’re Ready.
As an investment management organization founded in 1930, we are no stranger to global crises and market upheavals. While uncertainty will likely continue to fuel short-term volatility in the markets, we believe HighGround is well-positioned to face this challenge.
Our highly disciplined investment program is based on our belief that fundamentally sound investment and risk management practices, when applied consistently, improve the ability to meet your investment objectives.
Our philosophy centers around five tenets:
- Asset Allocation
- Capturing long-term market risk premiums
- Global diversification
- Active management
- Disciplined process
If you have any questions or concerns, we encourage you to reach out to our team. Despite the challenges we face in 2020, we are committed to protecting, strengthening and growing your mission. Thank you for your continued confidence in HighGround.
We will get through this together and be stronger for it. For 90 years we’ve weathered storms with our client partners, and we will successfully endure this one, too.