Texas Presbyterian Foundation

TPF Updates, Insight, and Information Related to the current COVID-19 outbreak

TPF BUSINESS SCHEDULE and UPDATES

BUSINESS SCHEDULE

Due to the COVID-19 situation and a “shelter-in-place” order for Dallas County, TPF’s staff will be working remotely; however we are still available to you.

If you need to contact us, you can call our main number at (214) 522-3155 to leave a voice mail for one of the following extensions, and we will respond as soon as possible:

Rick Young – ext 2264
John Furlow – ext 2277
Beth Wilt – ext 2276
Mary Beth Foster – ext 2272

Thank you, and stay well!

UPDATES

March 23, 2020

Dear TPF Partners, Friends, and Associates,

In this rapidly changing landscape, communication is critical. As such, we want to provide assurance that TPF’s ability to successfully conduct operations has not been diminished as a result of the COVID-19 outbreak.

TPF is committed to providing you uninterrupted service and support. A working group of TPF’s senior management and Staff has been meeting daily to ensure we are well-positioned to adjust as circumstances warrant. Our focus has not only been on the health and safety of our Staff, but also on service and communication to our Partners.

As noted in prior communications, TPF has taken proactive measures to keep our team members and their families as safe as possible. For over 20 years TPF has practiced and tested a robust business continuity plan. Thus far, TPF has not missed a beat during this current pandemic. As of today, Monday March 23, 2020, TPF is operating under a “Shelter in place” order. We will still be able to respond to Partner requests and anticipate continued full operations. Should anything change, we will keep you informed.

This month, we have seen unprecedented volatility in the investment markets. The structure, quality, and liquidity of the TPF Pooled Funds should help our Partner’s portfolios weather the storm. Remember, this is a health-driven crisis, where the fear of the unknown is the key factor in this volatility. Our funds have been managed through similar periods of stock and bond market volatility, and our long-term record is supportive of our measured approach.

We continue to correspond with all of TPF’s Investment Managers, and their investment strategy decisions remain focused on long-term investment outcomes. There’s no doubt that already, absolute investment results are being adversely impacted, reflecting extraordinary share price volatility of our portfolio business and broader markets. However, our relative investment results remain fairly strong.

Additionally, TPF is planning a webinar this Friday, March 27, to discuss the impact of COVID-19 on TPF and our Partners. We will be discussing both the current environment and the ways TPF is here to serve you. Registration information will be posted on this update page.

Our major concern is for you, yours, and your congregation or institution. We understand that your lives are impacted by the stress and ramifications of this virus. We lift you daily in our thoughts and prayers. Please stay safe and take care of yourselves and those closest to you. In these times, it’s important that we not only protect our physical health, but our mental health as well.

All our best,

The Rev. Dr. Rick Young
President
Texas Presbyterian Foundation

John Furlow
Executive Vice President
Texas Presbyterian Foundation

 


March 16, 2020

Dear TPF Partners, Friends, and Associates,
We continue to evaluate the growing impact of the global COVID-19 outbreak and assess its implications for our partners, staff, and investment strategies. Public health and safety considerations remain of the utmost importance. In this update, we share information and insights from TPF Executive Leaders, Segal Marco Advisors, and TPF Investment Managers.
TPF has taken proactive measures to keep our team members and their families as safe as possible. Fortunately, at this point no member of our staff has reported coronavirus infection. By virtue of business continuity planning and preparation, we have the systems and technologies that enable our staff members to execute their responsibilities remotely and fulfill our obligations to our partners. At this time, we anticipate continued full operations, and we will keep you informed of any change in our status.
This past week, we have seen a variety of responses from governments and businesses to the increasing spread of the corona virus. The closure of events, meetings, schools, and general activity will negatively impact the economy. While these markets can be unsettling and difficult to endure, it is imperative that we all remember that times like these are NOT the times to make major changes or decisions.
Remember, we have seen rough patches before, and staying the course has guided us through previous turbulent waters. Comforting us along the way, we have the quality and liquidity of the TPF Pooled Funds. This liquidity provides TPF and our partners with the flexibility to capitalize on rebalancing opportunities that arise with this volatility, while also, and most importantly, allowing TPF to provide our partners with the vital needed dollars to help meet your mission.
It is important to understand that this is a health-driven crisis, where the unknown duration of the outbreak is the key determinant of the magnitude of the crisis. However, this event WILL have a duration, and it is NOT a financial crisis. Unlike 2008, potential systemic concerns such as the health of banks and financial institutions are not the key issues. Our funds have been managed through similar periods of stock and bond market volatility, and our long-term record is supportive of our measured approach.
We have corresponded with all of TPF’s Investment Managers, and their investment strategy decisions remain focused on long-term investment outcomes. There’s no doubt that already, absolute investment results are being adversely impacted, reflecting extraordinary share price volatility of our portfolio business and broader markets. However, our relative investment results remain fairly strong. The lower interest rates have proved the diversification benefits of bonds as a hedge against stock market volatility. Moreover, such periods of high stock market volatility present us with the opportunity to build positions in our highest conviction businesses.
For more information, CLICK HERE to access the most current Investment Brief from Tim Barron, Chief Investment Officer, Segal Marco Advisors.
With all of this being said, TPF is keeping each of you and the congregations and organizations that you represent in our thoughts and prayers. We know that these are stressful and uncertain times, and we remain your dedicated  partner in ministry and mission. Please be safe and stay strong.

All our best,

The Rev. Dr. Rick Young
President
Texas Presbyterian Foundation

John Furlow
Executive Vice President
Texas Presbyterian Foundation

I thank Christ Jesus our Lord, who has given me strength, that he considered me trustworthy, appointing me to his service.