(62 percent equities, 25 percent fixed income, 10 percent absolute return strategy* and 3 percent real estate)
Sector |
Investment Managers/Funds |
Target |
| Fixed Income | Highland Capital Management | 25.0% |
| Large Cap U.S. Equity | Delta Asset Management | 6.0% |
| Lateef Investment Management | 4.0% | |
| Longleaf Partners Fund | 6.0% | |
| Vanguard 500 Index Fund | 8.0% | |
| Victory Capital Management | 7.5% | |
| Small/Mid Cap U.S. Equity | Advisory Research, Inc. | 3.5% |
| NewSouth Capital Management | 3.5% |
|
| International Equity | Diversified Trust International | 6.0% |
| Sanderson
Asset Management International Value Fund |
6.0% |
|
| Emerging Markets | T. Rowe Price Institutional Emerging Markets Fund | 1.5% |
| Hedged Equity | Barlow Partners | 10.0% |
| Alternative Investments | Private Advisors Stable Value Fund, Ltd. (Absolute Return Strategy*) | 10.0% |
| Real
Estate |
ING Clarion - Clarion Lion Properties Fund, LLC |
3.0% |
Updated May 2007
*Absolute return investing utilizes a variety of strategies that consist of positions in
marketable securities that have little or no correlation to the traditional stock or bond
markets. These strategies are designed to
capture mispricings between securities of the same or different issuer(s) that may be
directly or indirectly related. Historically,
the return volatility of managers implementing these strategies has been comparable to
bonds, while returns have been competitive with equities.
The investment objective
for the absolute return allocation is to generate consistent, positive returns while
reducing the overall return volatility of the Balanced Pool.
The Community Foundation of Greater Memphis has implemented its absolute return
allocation through the Private Advisors Stable Value Fund, Ltd., a fund of funds vehicle
managed by Private Advisors, LLC. Private
Advisors, LLC is based in
