Hawke’s Bay Foundation operates under the Endowment Fund model, where the majority of donations received are invested, and the income received from these donations is distributed to local charities annually.
Our Endowment Fund is invested in perpetuity, so we have not been particularly concerned about volatility caused by Covid-19.
Like all investment portfolios the Endowment Fund dropped in value, especially around the end of March, but has since substantially recovered. We do though expect on-going volatility.
As new donations arrive, we continue to invest these based on our SIPO (Statement of Investment Policy and Objectives) in conjunction with our investment advisors. We have the benefit of being able to take a very, very long-term view.