Benchmarks are used to measure a portfolio’s performance relative to some relevant yardstick. This report is an in-depth discussion of benchmarking objectives, compositions, and managers. It also includes a lengthy discussion of benchmarking within the different asset classes.
This paper examines the potential risks and rewards of a timber investment, as well as vehicles, terms, and benchmarks.
An introduction to U.S. TIPS, their performance and correlations to other asset classes, as well as the pros and cons for a TIPS allocation and investing strategies.
This paper provides a framework for assessing nonpublic defined benefit pension plans by examining the key characteristics of pension liabilities, various risks to consider during the asset allocation process, and risk immunization. Exhibits cover pension fund performance, liquidity constraints, liability duration, and a comparison of asset allocation differences between pensions and endowments.
A discussion of the role of bonds in policy portfolios and the factors to consider (duration, sector allocation, management approach, benchmarking, etc.) when implementing a fixed income allocation.
An introduction to the sector of financial instruments whose value is based on that of some underlying security, such as a bond or a share of a stock. This primer covers the definitions, characteristics, and uses of the major types of derivatives as well as issues and guidelines for implementation.
This primer describes 12 key financial indicators useful in monitoring a college or university’s ability to provide for future generations of students.
A primer on commodities including the policy argument for an allocation, sources of return, investment vehicles, correlations with other asset classes, and benchmarks.
A primer on venture capital including the economic basis of return, financing stages, investment strategies and concerns, partnership terms, manager evaluation, and the secondary market.
A primer on UBIT including a clarification of rules governing its application and circumstances when this tax may be incurred.