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Please be advised that future verbal and written communications from the bank may be in English only. These communications may include, but are not limited to, account agreements, statements and disclosures, changes in terms or fees; or any servicing of your account.
Por favor, tenga en cuenta que es posible que las comunicaciones futuras del banco, ya sean verbales o escritas, sean únicamente en inglés. Estas comunicaciones podrían incluir, entre otras, contratos de cuentas, estados de cuenta y divulgaciones, así como cambios en términos o cargos o cualquier tipo de servicio para su cuenta.
Informamos que as futuras comunicações do banco, verbais e escritas, podem estar disponíveis apenas em inglês. Essas comunicações podem incluir, entre outras, acordos de conta, extratos de conta e divulgações, alterações aos termos ou tarifas, ou qualquer tipo de serviço pertinente à sua conta.
仅此通知，本行即日起发出的口头及书面通信可能将只提供英文版本。这些通信可能包括但不限于账户协议，账单和通知，条款或费用变更；或任何为您账户提供的服务。
Please be advised that future verbal and written communications from the bank may be in English only. These communications may include, but are not limited to, account agreements, statements and disclosures, changes in terms or fees; or any servicing of your account.
Por favor, tenga en cuenta que es posible que las comunicaciones futuras del banco, ya sean verbales o escritas, sean únicamente en inglés. Estas comunicaciones podrían incluir, entre otras, contratos de cuentas, estados de cuenta y divulgaciones, así como cambios en términos o cargos o cualquier tipo de servicio para su cuenta.
Informamos que as futuras comunicações do banco, verbais e escritas, podem estar disponíveis apenas em inglês. Essas comunicações podem incluir, entre outras, acordos de conta, extratos de conta e divulgações, alterações aos termos ou tarifas, ou qualquer tipo de serviço pertinente à sua conta.
仅此通知，本行即日起发出的口头及书面通信可能将只提供英文版本。这些通信可能包括但不限于账户协议，账单和通知，条款或费用变更；或任何为您账户提供的服务。
Strategic Asset Allocation for Endowments, Foundations and Non-profits: Fixed Income Component
Though various fixed income weightings might provide similar overall performance, in our analysis one weighting in particular has offered potentially better downside protection over full market cycles for Endowments, Foundations and Non-Profits (EF&Ns). We capture this weighting and the present-day implications for EF&N’s in Strategic Asset Allocation for Endowments, Foundations and Non-Profits: Fixed Income Component.
• Given the long-term nature of the E&F investment horizon, it makes sense that there is a significant weighting to long duration fixed income securities, possibly both government and corporate bonds. Not all weightings have provided the same downside protection, though
• While the analysis of benchmarks on a stand-alone asset class basis is of some interest, what is of most importance in a strategic asset allocation, in our view, is the behavior of the asset classes in a portfolio context
• From this perspective, one weighting has the highest potential to serve as both a source of income for E&Fs’ periodic cash flow needs and as partial ballast against equity risk within the portfolio based on past periods of market stress.
Read the white paper
