Blog

Our Commitment to You

March 13, 2020 - With the recent acceleration of efforts to contain the coronavirus (COVID-19) after the World Health Organization declared the outbreak a pandemic on Wednesday, we want to assure you that HighGround is monitoring the situation closely and is committed, as always, to protect, strengthen and grow the assets entrusted to us.

HighGround has the necessary technology and resources in place to keep operations running without interruption. Should it become necessary, our employees are equipped to work remotely or on a staggered work schedule to execute our investment process and maintain critical functions such as fund purchases and liquidations, payments to donors and annuitants and income distributions. As a reminder, HighGround offers electronic deposit of distributions directly to your bank account. If you are not yet utilizing this service, please reach out to client.support@highgroundadvisors.org to get started today.

MARKET UPDATE
Since our last update, market volatility has escalated due to the continued spread of COVID-19 outside China, in combination with a sharp decline in oil prices resulting from lower global demand and the emerging supply dispute between Russia and Saudi Arabia. In our 90-year history, our experienced team has weathered many storms, successfully managing portfolios through bouts of volatility and periodic recessions. While market swings are certainly unsettling, they demonstrate the importance of strong investment diversification to protect against the unforeseeable risks that can swiftly overwhelm capital markets. Adhering to our well-established investment process our team is:

  • MONITORING PORTFOLIOS
    • We are in close contact with our investment managers who are using the market's volatility to increase exposure in companies with strong fundamentals at discounted valuations to their long-term intrinsic value. 
    • We are taking the opportunity to prune recent gains from HighGround's fixed income portfolios and reinvest in public equity at significantly more attractive valuations relative to market fundamentals.
  • MANAGING LIQUIDITY: We are maintaining ample portfolio liquidity to handle all standard periodic distributions as well as any unique cash needs that our clients may have during this time. 
  • STAYING DISCIPLINED: As managers of long-term perpetual endowment, we are adhering to our disciplined investment process and will continue to manage all portfolios in tight compliance with policies and guidelines.

We understand this situation is challenging, not only for our client partners but for every community and business around the world. We continue to pray the coronavirus can be quickly contained, sparing further loss of life.

Thank you for entrusting us with your financial success. We take this responsibility seriously and will keep you updated as necessary. Should you have any questions, please let us know.

Regards,
Jeff Smith
President & CEO