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Endowment Governance Part 3 – Process and Engagement

The “secret sauce” to long-term investment success is, in most cases, the governance that guides and oversees the investment program. In this series, we discuss the roles and responsibilities of governance; highlight the steps to build a diverse and collaborative committee, and outline the culture of a well-functioning committee.

May 2020

Managing Portfolios Through Equity Market Downturns

Thoughtful decisions during chaotic environments are what separate the top-performing investors from everyone else. In this series, we review five important topics that should inform any plan to manage portfolios through equity market downturns.

September 2019

Market History

Equity market downturns are chaotic environments that are rarely short-lived—the best advice is to be prepared.

September 2019

Portfolio Liquidity

Investors that have inflexible spending needs and large allocations to illiquid assets should plan how they will tackle the next downturn’s liquidity challenges.

September 2019

Diversification Challenges

As investors prepare for the next equity market downturn, they should take a closer look at the benefits and limits of diversification.

September 2019

Behavioral Roadblocks

Bear markets often trigger emotional responses that can sometimes lead investors to act contrary to their long-term objectives; as such they need simple strategies to help overcome their worst instincts.

September 2019

Playing Offense

Investors should review existing policies regarding portfolio rebalancing and tactical asset allocation and ensure they have a strategy to play offense during the next downturn.

September 2019

A Balancing Act: Strategies for Financial Executives in Managing Pension Risk

As pressures on pensions mount, we believe financial executives are best served by re-evaluating major decisions in terms of the true tools at their disposal. In this paper we review four levers that are fundamental drivers of pension costs and outcomes: asset returns, liability hedging, contribution policy, and benefit management. Balancing these levers is critical to enabling greater probability of success in managing pension risk, and we introduce a framework for chief financial officers and other financial executives to use in doing so.

November 2017