Endowments and foundations
Our key tenets for E&F investing
BALANCE GROWTH AND OBLIGATIONS
The greatest advantage that many nonprofits enjoy over other kinds of investors may be a long time horizon. Nevertheless, appropriate deployment of capital requires a clear understanding of short-term liabilities.
MATCH ASSETS TO GOALS
The “wisdom of crowds” is a poor substitute for carefully aligning investment strategies to your goals.
PRESERVE PURCHASING POWER
Inflation threatens the spending power of most nonprofits. Unexpected bouts of high inflation have not been uncommon historically, suggesting a strategic allocation to inflation-hedging assets. And typically, periods of low inflation have been good times to initiate or increase such allocations.
THINK FUNCTION, NOT FORM
The role that an asset plays in a nonprofit’s portfolio is far more important than the asset class. Focus on outcomes, not asset categories.
Consider investing opportunistically. Seek out underperforming asset classes, sectors, and managers.
Meet some of our E&F professionals
Andrew Tubman, CFA, Director, Endowments and Foundations Strategies
Adele Koehler, CFA, Director, Alternatives Product Development
Helen Clement, CFA, Director of Alternative Investments, Americas
Any views expressed herein are those of the individuals shown, are based on available information, and are subject to change without notice. Individual portfolio management teams may hold different views and may make different investment decisions for different clients. These examples are not reflective of any specific investment strategy, nor is this considered investment advice or a recommendation to buy or sell any specific security.