FIA Coronavirus Preparedness

We communicated with you last week regarding the recently volatile capital market conditions arising in the wake of the global outbreak of the Coronavirus.  Governments and businesses around the world are keeping close and active tabs on the situation and the potential implications the efforts to contain and manage the virus may have on both societal and economic levels.  We are actively monitoring developments on this front as well, and thought it appropriate to share some of the steps that we have taken to safeguard our organization’s employees and ensure that we can continue to deliver our services to you in an uninterrupted manner.

Of course, the well-being of our employees is our primary and most paramount concern.  As a result, we have immediately instituted company-wide restrictions on business travel.  Importantly, we possess ample capacity and bandwidth to conduct our daily activities through a variety of other modes and channels of communication, such as video conferencing, conference calls, and webinars.  We regularly interact with our clients and other relevant parties via these formats and are confident that, if necessary, materially expanding our use of these tools will not diminish our ability to conduct timely and productive meetings.

Since our firm’s inception, we have had business continuity protocols in place to carry on with our responsibilities when confronted by scenarios in which access to our office locations may be hindered.  In analyzing the potential impact of the Coronavirus, the most likely disruption would be a public health warning advising against a significant concentration of employees in a single location.  In this event, our standard business continuity protocols would allow us to continue to carry out our responsibilities uninterrupted.  Our employees have the ability to access all required systems and files remotely from their home offices, including the execution of client trading through secure platforms.  Our ability to retrieve information from our vendor partners (custodian banks, record keepers, etc.) is a consideration as well.  We regularly test system access and connectivity as part of our larger business recovery plan, and our protocols have proven to be fully operational when implemented in past events (which have been weather-related).

Our monitoring of conditions in the capital markets remains particularly elevated and vigilant.  Our internal committees with responsibility for formulating our investment stances and managing client assets are gathering frequently, rigorously analyzing new data and information in real time to test our standing investment preferences.  As we wrote last week, periods of heightened instability and uncertainty in the markets are rarely opportune times to instigate dramatic portfolio alterations.  We will certainly keep you apprised as our opinion evolves.

Please reach out to us should you wish to further discuss this very fluid situation.  Take care and rest assured that we are working with unprecedented diligence to best prepare our firm to serve you, uninterrupted, in the manner to which you have grown accustomed.

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