ORGANIZATIONAL OBJECTIVES Determine cash flow Define organization’s values Establish administrative needs ORGANIZATIONAL OBJECTIVES Determine cash flow Define organization’s values Establish administrative needs MACRO OVERVIEW Research and monitor key leading market indicators Forecast return expectations across global markets Model range of scenarios to generate confidence intervals MACRO OVERVIEW Research and monitor key leading market indicators Forecast return expectations across global markets Model range of scenarios to generate confidence intervals ASSET ALLOCATION Define long-term, risk-adjusted return objectives Take advantage of market corrections and asset mispricing Dynamically rebalance portfolios to target allocations ASSET ALLOCATION Define long-term, risk-adjusted return objectives Take advantage of market corrections and asset mispricing Dynamically rebalance portfolios to target allocations PORTFOLIO DESIGN Select optimal mix of low-cost funds, individual securities, and alternatives Optimize portfolio security selection to maximize risk-adjusted return potential and minimize correlation overlap Stress-test portfolios under extreme duress PORTFOLIO DESIGN Select optimal mix of low-cost funds, individual securities, and alternatives Optimize portfolio security selection to maximize risk-adjusted return potential and minimize correlation overlap Stress-test portfolios under extreme duress DYNAMIC IMPLEMENTATION Identify ideal underlying investments Adjust portfolio based on proprietary characteristics, liquidity, and valuation models Monitor net-of-fee performance against benchmarks DYNAMIC IMPLEMENTATION Identify ideal underlying investments Adjust portfolio based on proprietary characteristics, liquidity, and valuation models Monitor net-of-fee performance against benchmarks RISK MANAGEMENT Leverage cutting-edge technology to evaluate risk levels Create easy to digest portfolios and holdings Balance expected returns against inherent risks to be consistent with the institutions’ risk comfort, values, and long-term goals RISK MANAGEMENT Leverage cutting-edge technology to evaluate risk levels Create easy to digest portfolios and holdings Balance expected returns against inherent risks to be consistent with the institutions’ risk comfort, values, and long-term goals