INVESTMENT PHILOSOPHY

• Construct growth oriented portfolios to cover long-term spending needs and inflation.
• Utilize the diversification benefits of less correlated asset classes and strategies to navigate a variety of economic and market environments and minimize the potential for permanent loss of capital.
• Rebalance portfolios consistently to take advantage of market volatility and mean reversion.
• Alpha is scarce and hard to identify. Capturing it requires:
  • Identifying managers with a robust and repeatable investment process
  • Proactively allocating to mispriced assets
  • Taking advantage of opportunities in complex and less efficient public and private markets*
  • Minimizing headwinds, including high fees and misalignment of manager incentives
  • Selectively utilizing low cost, passive strategies in more efficient markets