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Kim Lew - The Dynamics of Risk Management and Asset Allocation
Value Investing with Legends
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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