Since the explosive outbreak of the coronavirus, our two main priorities have been to preserve the health of the Altamar team in all our offices, to contribute responsibly to the containment of contagion and to guarantee the continuity of our activity. In this sense, and as part of our Business Continuity Plan, a series of initiatives have been adopted to avoid the disruption of our different activities as well as to ensure that all our operating systems function properly.
At the operational level, we can affirm that Altamar’s activity is developing as planned and has not been interrupted in any case. The great spirit of collaboration inherent in the Altamar culture, as well as the generosity and professionalism of the team have made it possible that, together with a series of initiatives put in place to face this situation, the necessary tools have been implemented so that the operation of the company has not been affected.
1. Altamar’s Executive Committee appointed a Covid-19 Crisis Committee, which is efficiently coordinating all management efforts to manage this emergency situation.
2-. Both IT and Risk & Compliance teams have been on alert since the virus outbreak and working on our IT systems and tools so that the entire Altamar team globally could work remotely. Since Thursday, March 12, the 170 employees of the firm have been working in this way. The measures subsequently announced by the Spanish government found us already organized and operating normally on a remote way.
3.- We maintain a very high level of activity working remotely, and we have not registered any operational incident. Our investment committees are working properly, as well as the rest of Altamar’s activities.
As an organization we have already experienced other difficult situations during our almost 16 years of existence and this time we will continue to behave in the same way with respect to proximity to our investors, as well as staying loyal to our investment philosophy regarding discipline, rigor and diversification that have given us such good results during all these last years and whose main continues to be the capital preservation.
At Altamar we are confident in the robustness and resilience of our portfolio, which is well diversified across regions and industries and managed by GPs with extensive experience who have overcome difficult situations in the past. With the prudence required by the seriousness of the situation, the magnitude of which we still do not know, we also know that it is at this time when the best opportunities arise.