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Kim Lew - The Dynamics of Risk Management and Asset Allocation

Value Investing with Legends

NOTE

Size and Mission Distinguish Foundations and Endowments

Foundations and endowments serve different purposes despite being often grouped together. A key distinction lies in their size and missions. Foundations manage their payout as a percentage of assets, making volatility a primary concern, while endowments have a fixed dollar payout regardless of market performance. Additionally, foundations support 100% of their budget while endowments only support a portion. These differences impact how portfolios are managed and what challenges each institution faces.

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