HighGround Domestic Equity Fund

• Total assets: $391.4 million
• Inception date: April 1995
• Subadvisors:
  • HighGround Large Cap Equity Fund
    • Blackrock Systematic Active Equity Core
    • Loomis Sayles (Growth)
  • HighGround Equity Index Fund
    • Northern Trust Asset Management (S&P 500® Index)
  • HighGround Mid Cap Equity Index Fund
    • Northern Trust Asset Management (S&P 400® Index)
  • HighGround Small Cap Equity Fund
    
    • Boston Partners (Value)
    • Westfield Capital Management (Growth)
  • Arrowstreet Capital
    
    • Broad Market

• Strategy: HighGround Domestic Equity Fund provides well-diversified investment exposure to the broad U.S. public equity market. The Fund is constructed using multiple external investment managers with complementary investment strategies. The Fund’s strategy relies on stock selection as the primary source of added value above the return of the benchmark, with capitalization, economic sector and style exposures similar to those of the benchmark.

HighGround Equity Index Fund

• Total assets: $307.9 million
• Inception date: April 1995
• Subadvisor:
  • Northern Trust Asset Management (S&P 500® Index)
• Strategy: HighGround Equity Index Fund is passively managed and seeks to replicate the investment return of the S&P 500® Index.

HighGround Large Cap Equity Fund

• Total assets: $167.1 million
• Inception date: July 1991
• Subadvisors:
  • Blackrock Systematic Active Equity Core
  • Loomis Sayles (Growth)
  • Northern Trust Asset Management (S&P 500® Index)
• Strategy: HighGround Large Cap Equity Fund provides diversified investment exposure to large and mid-size companies publicly traded on U.S. stock exchanges. The Fund is constructed using multiple external investment managers with complementary investment strategies. The Fund’s strategy relies on stock selection as the primary source of added value above the return of the benchmark, with capitalization, economic sector and style exposures similar to those of the benchmark.

HighGround Mid Cap Equity Fund

• Total assets: $10.6 million
• Inception date: December 2016
• Subadvisor:
  • Northern Trust Asset Management (S&P 400® Index)
• Strategy: HighGround Mid Cap Equity Index Fund is passively managed and seeks to replicate the investment return of the S&P 400® Index.

HighGround Small Cap Equity Fund

• Total assets: $50.8 million
• Inception date: May 1997
• Subadvisors:
  • Boston Partners (Value)
  • Westfield Capital Management (Growth)
• Strategy: HighGround Small Cap Equity Fund provides diversified investment exposure to small cap companies publicly traded on U.S. stock exchanges. The Fund is constructed using multiple external investment managers with complementary investment strategies. The Fund’s strategy relies on stock selection as the primary source of added value above the return of the benchmark, with capitalization, economic sector and style exposures similar to those of the benchmark.

HighGround International Equity Fund

• Total assets: $351.9 million
• Inception date: May 1995
• Subadvisors:
  • Developed Markets
    • JO Hambro Capital Management (Growth)
    • Kabouter Management (Small Cap)
    • MFS Institutional Advisors (Market-Growth)
    • Mondrian Investment Partners (Value)
    • Trinity Street Asset Management (Market)
  • Emerging Markets
    • City of London Investment Management (Market)
    • Harding Loevner (Market-Growth)
    • Arrowstreet Capital Market
    • Wellington Management (Market)
  • Strategy: HighGround International Equity Fund provides well-diversified investment exposure to the broad non-U.S. public equity markets, including developed and emerging market countries. The Fund is constructed using multiple external investment managers with complementary investment strategies. The Fund’s strategy relies on stock selection as the primary source of added value above the return of the benchmark, with capitalization, regional, economic sector and style exposures similar to those of the benchmark.

HighGround Global Equity Fund

• Total assets: $55.7 million
• Inception date: January 1991
• Subadvisors:
  • Domestic All Cap
    • Arrowstreet Capital
  • Domestic Large Cap
    • Blackrock Systematic Active Equity
    • Loomis Sayles 
  • Domestic Small Cap 
    • Boston Partners 
    • Westfield Capital Management 
  • Domestic Passive
    
    • Northern Trust Asset Management
  • International Developed Markets 
    • J O Hambro Capital Management 
    • Kaubouter Management 
    • MFS Institutional Advisors 
    • Mondrian Investment Partners 
    • Trinity Street Asset Management 
  • International Emerging Markets 
    • City of London Investment Management 
    • Harding Loevner 
    • Lazard Asset Management 
    • Wellington Management 
  • Strategy: HighGround Global Equity Fund provides well-diversified, broad investment exposure to global public equity markets. The Fund is managed as a fund-of-funds and constructed using HighGround’s Domestic Equity Fund and International Equity Fund and is employed primarily in planned giving portfolios (e.g. charitable remainder trusts and gift annuities) to gain exposure to global public equity markets. The Fund’s strategy relies on stock selection as the primary source of added value above the return of the benchmark, with capitalization, regional, economic sector and style exposures similar to those of the benchmark.

HighGround Private Equity Fund

• Total assets: $240.5 million
• Inception date: December 2007
• Strategy: HighGround Private Equity Fund provides investment exposure to private companies diversified across global regions and economic sectors. Investments are made through private limited liability investment vehicles (e.g. limited partnerships) sponsored by external investment managers that specialize in corporate buy-out, venture capital, and distressed and special situation investment opportunities. The Fund’s strategy seeks to earn an illiquidity return premium over the returns of public equity.

HighGround Bond Fund

• Total assets: $281.8 million
• Inception date: April 1995
• Subadvisors:
  • Dodge & Cox
  • PIMCO
• Strategy: HighGround Bond Fund provides diversified investment exposure to primarily U.S. investment grade fixed income securities, including U.S. Treasury, mortgage and corporate debt, but may also have limited exposure to high yield and non-dollar fixed income securities. The Fund is constructed using multiple external investment managers with complementary investment strategies. The Fund’s strategy relies on sector rotation, duration management and security selection to add value above the return of the benchmark, with credit quality, duration and sector exposures that are similar to those of the benchmark.

HighGround Enhanced Cash Fund

• Yield as of 04/15/2024: 3.93%
• Total assets: $228.4 million
• Inception date: April 2005
• Subadvisors:
  • Northern Trust Asset Management U.S. Government Fund
  • Caprin Asset Management
  • BlackRock TempCash Fund
• Strategy: HighGround Enhanced Cash Fund provides diversified investment exposure to U.S. investment grade money market and short to medium-term fixed income securities, including U.S. Treasury, mortgage, corporate and municipal bonds. The Fund is managed as a fund-of-funds and seeks to earn current yields in excess of money market rates, while also providing preservation of principal, daily liquidity and a constant net asset value. The Fund is constructed by combining government and prime money market funds with a high quality, higher yielding low duration fixed income portfolio. The fixed income portfolio has credit quality, duration and sector exposures similar to the ICE BofAML Corporate & Government 1-3 Year Index.

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HighGround Real Estate Fund

• Total assets: $105.3 million
• Inception date: May 2006
• Advisor:
  • The Townsend Group

Strategy: HighGround Real Estate Fund provides investment exposure to institutional quality real estate assets, diversified across all commercial property types (e.g. office, retail, multi-family) and geographic regions, including investments outside the U.S. Investments may include “operating” assets, characterized by high occupancy levels, low leverage, high quality credit tenants, and strong cash flow, as well as higher risk, higher return “value added” and “opportunistic” assets (non-core). Investments are primarily made through private limited liability investment vehicles (e.g. limited partnerships) sponsored by external investment managers that specialize in real estate, but may also include investments in equity-oriented credit and mortgage related assets, as well as public sector investments (e.g. REITs).

HighGround Marketable Alternatives Fund

• Total assets: $107.4 million
• Inception date: May 2014
• Subadvisors:
  • Evanston Capital Management
  • Forester Capital
  • PIMCO

• Strategy: HighGround Marketable Alternatives Fund provides semi-liquid investment exposure to a diversified portfolio of hedge fund strategies that may include long/short equity, long/short credit, event driven, distressed, global macro, relative value or other hedging strategies consisting of marketable securities. The Fund seeks to generate returns with low correlation to the returns of the public equity and fixed income markets and is employed in endowment portfolios to reduce volatility and provide downside protection during periods of stress in the capital markets. Investments are made through private limited liability investment vehicles (e.g. limited partnerships) sponsored by external investment managers specializing in one or more hedge fund strategies and are diversified by strategy, sectors and geography, including some non-U.S. investments.

HighGround Keystone Endowment Fund

• Total assets: $5.9 million
• Inception date: November 2019
• Strategy: HighGround Keystone Endowment Fund is designed for long-term endowment assets, offering a fully outsourced investment solution for endowed organizations. The Fund employs a globally diversified multi-asset class strategy with a risk and return profile that aligns with the perpetual investment horizon and long-term objectives of endowment assets. The Fund is managed as a fund-of-funds and is constructed using HighGround public equity and fixed income funds. The Fund has no exposure to illiquid or semi-liquid alternative investments.
  
  

HighGround Cornerstone Endowment Fund

• Total assets: $26.2 million
• Inception date: August 2019
• Strategy: HighGround Cornerstone Endowment Fund is designed for long-term endowment assets, offering a fully outsourced investment solution for endowed organizations. The Fund employs a globally diversified multi-asset class strategy with a risk and return profile that aligns with the perpetual investment horizon and long-term objectives of endowment assets. The Fund is managed as a fund-of-funds and constructed using HighGround public equity funds, as well as third-party mutual funds. The Fund employs only passively managed strategies and has no exposure to illiquid or semi-liquid alternative investments.
  
  

HighGround Growth Fund

• Total assets: $283.3 thousand
• Inception date: March 2019
• Strategy: The Fund seeks to employ a globally diversified multi-asset class strategy with a risk and return profile that aligns with a grant-making time horizon of more than 10 years. The Fund’s investments typically include U.S. domestic and international equities, U.S. domestic and global fixed income and cash. The Fund will generally have the following key strategic attributes:
  • Significant allocation to equity which acts as the Fund’s main growth driver
  • Precautionary investments expected to protect against macroeconomic shocks of inflation and deflation
  • Broad diversification by asset class, geography and sector
  • Daily liquidity to fund the donor’s charitable grants

HighGround Balanced Fund

• Total assets: $2.1 million
• Inception date: March 2019
• Strategy: The Fund seeks to employ a globally diversified multi-asset class strategy with a risk and return profile that aligns with a grant-making time horizon of five to ten years. The Fund’s investments typically will include a balanced portfolio of U.S. domestic and international equities, U.S. domestic fixed income, and cash. The Fund will generally have the following key attributes:
  • Allocation to equity which acts as the Fund’s main growth driver
  • Allocation to precautionary investments expected to protect against macroeconomic shocks of inflation and deflation
  • Broad diversification by asset class, geography and sector
  • Daily liquidity to fund the donor’s charitable grants

HighGround Conservative Fund

• Total assets: $2.0 million
• Inception date: March 2019
• Strategy: The Fund seeks to employ a diversified multi-asset class strategy with a risk and return profile that aligns with a short-term grant-making time horizon of five years or less. The Fund’s investments typically include U.S. domestic equities, U.S. domestic fixed income and cash. The Fund will generally have the following key strategic attributes:
  • Significant allocation to precautionary investments expected to protect against macroeconomic shocks of inflation and deflation
  • Small allocation to equity which acts as the Fund’s main growth driver
  • Broad diversification by asset class, geography and sector
  • Daily liquidity to fund the donor’s charitable grants

HighGround Liquid Real Assets Fund

• Total assets: $56.9 million
• Inception date: January 2021
• Subadvisors:
  • CBRE Investment Management Global Infrastructure Equity
    Global Infrastructure Equity
  • Dimensional Fund Advisors
    U.S. REITs and U.S. Inflation Protected Bonds (TIPs)
  • DoubleLine
    Global Infrastructure Fixed Income
  • Newton Investment Management Global Natural Resources Equity
• Strategy: HighGround Liquid Real Assets Fund provides investment exposure to a portfolio of publicly-traded real asset securities, diversified across investment strategies (e.g. listed global real estate and infrastructure securities, other publicly-traded equities including natural resources related equities, MLPs, plus TIPS and global infrastructure fixed income securities) and geographic regions, including investments outside the U.S. The Fund is constructed using multiple external investment managers with focused, complementary investment strategies. The Fund’s strategy relies on security selection plus industry and sector rotation to add value above the return of the benchmark.