by Scott Ronalds
I don’t know about you, but my barbecue’s been getting a workout this summer. With COVID-19 still prevalent, we’ve been eating in more than ever. No complaints though, the grilling’s been good. Maybe too good. To fend off the quarantine fifteen in our house, we’ve had to invest in a spin bike. Thirty minutes in the saddle justifies a peppercorn ribeye, no?
My colleagues tell me their gas bills have seen an uptick too. And this from a group that already eats its own cooking in abundance. In fact, it’s a requirement at Steadyhand. Investing alongside our clients — or eating our own cooking — is one of our key business tenets. We feel there’s no better way to illustrate a commitment to our investment philosophy and business approach, and ultimately our clients, than to put our money where our mouth is.
We take it a step further by publishing every year the firm’s co-investment levels. The latest figures are in and we can report that every employee continues to have a significant portion of their financial assets in our funds. And we pay the same fees that you pay. On average, the team has 94% of our financial assets invested in the Steadyhand funds (as of June 30th). In dollar terms, our employees and our families have $34.8 million invested in our funds.
These numbers are worth highlighting because they mean our interests are well aligned — we’re experiencing the same fund performance, fees and client reporting that you are.
Note: For a more thorough overview of co-investment and why it’s important, see our piece Showing you the money.
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