Performance with Prudent Stewardship and Stability.
The overriding tenet of our philosophy is to preserve capital and enhance its purchasing power. Our non-profit clients come to us with significant assets, usually the result of the generosity of philanthropists and the ongoing, prudent stewardship by Trustees and staff. They turn to us for stability in their investments and, where relevant, a better understanding of the interrelationship between the organization’s operating performance, debt structure, capital pools and the supporting endowment or foundation. We honor that trust by crafting investment programs that seek to protect capital while meeting long-term investment objectives.
Following its worst year since 2008, the market roared back in the first three months of 2019, delivering its best quarter in nearly ten years. Fittingly, on the last day of trading the Lyft IPO priced at the top of its range with strong investor demand and, for the third time, the UK Parliament voted down the proposed Brexit plan. These countervailing notes of optimistic froth and continued global concern highlight the tension that investors face. Likewise, the prospect of a less vigilant Fed has buoyed the market but also points to the reality of slowing growth here and elsewhere around the globe.Click here to read the entire commentary