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Investing for endowments

Foundations and endowment portfolios often have two conflicting investment objectives that Evans and Partners can help manage to facilitate an effective outcome.

  1. In the short term, portfolios must provide cash flows sufficient to cover distribution requirements.
  2. In the long term, portfolios must provide sufficient growth, after adjusting for distributions and expenses, to protect the long-term purchasing power of the asset pools.

To properly address these two often conflicting goals, investment returns should be viewed as total returns (growth and income), return objectives should be defined as inflation plus targets, and risk should be assessed in terms of short-term return volatility and the probability of incurring a loss.

How the trade-off between growth, capital stability and income generation is viewed should serve as the basis for a range of policies that will guide the investment of funds.

We work closely with key decision-makers to develop, implement and govern multi-asset class investment programs that address the specific objectives and expectations of their organisation.