Investment Policy

The investment strategy to be followed in pursuit of the achievement of the Endowment Fund’s investment objectives is determined by the Investment Advisory Firm. This shall be done by using their proprietary asset allocation model. 

Model Allocation Target

Asset Class / Strategy

Approximate Allocation

Growth Oriented Strategies:


U.S. Equities


International Equities


Global Hedged Equity


Private Equity/Venture Capital


Emerging Markets Equity




Low Volatility Strategies:


U.S. Fixed Income


Absolute Return Strategies


Private Market Real


The Investment Advisory firm (Outsourced CIO) may modify their model allocation from time to time at their discretion. The Investment Advisory Firm will keep the Subcommittee and Staff apprised of variances from the model allocation targets and informed of anticipated changes in the model.
It is also understood that, initially, the Private Equity and Private Real Estate allocations may not be funded to the target levels. The investment strategy of these alternative investments is to fund the allocation when opportunities are deemed appropriate. The reason for including alternative investment strategies in the approved asset allocation is to increase the overall diversification of the Endowment and reduce the volatility of the total portfolio due to the relatively low correlation between the non-traditional strategies and traditional strategies (U.S. Stocks, International Stocks, and U.S. Bonds).