Balanced Pool

SectorInvestment Managers/FundsTarget
Fixed IncomeHighland Capital Management13.0%
 Vanguard Total Bond Market Index (VBTIX)7.0%
 1607 Capital Bond Fund, LP5.0%
Large Cap U.S. EquityDelta Asset Management5.0%
 Longleaf Partners Fund (LLPFX)5.0%
 Vanguard 500 Index (VINIX)7.0%
Small/Mid Cap U.S.Advisory Research, Inc.2.5%
 NewSouth Capital Management2.50%
International EquityDiversified Trust Co. - International3.0%
 Grandeur Peak International Opportunities Fund - Institutional Class (GPIIX)4.0%
 Nippon Value Investors Japanese Equity Trust3.0%
 Sanderson Asset Management International Value Fund6.0%
Emerging MarketsArisaig Global Emerging Markets Consumer Fund, Ltd.2.0%
 Grandeur Peak Emerging Markets Opportunities Fund - Institutional Class (GPEIX)1.5%
Hedged EquityGotham Neutral Fund - Institutional Class (GONIX)6.25%
 Alternative Investments Institutional, L.P.6.25%
Private EquityHeadlands Capital Secondary Fund II, LP3.0%
Alternative InvestmentsForester Diversified, Ltd. (Multi-Strategy Hedge Fund of Funds)5.0%
 SCS Opportunities Fund, Ltd. (Multi-Strategy Hedge Fund of Funds)5.0%
Real AssetsEagle Global Advisors, LLC - Eagle MLP Strategy Fund (EGLIX)2.5%
 Tortoise MLP & Pipeline Institutional Fund (TORIX)2.5%
 Siguler Guff Distressed Real Estate Opportunities Fund II, LP3.0%

* Multi-Strategy Hedge Fund of Funds may utilize a variety of strategies that consist of positions in marketable securities that in aggregate have little to 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. Strategies may include relative value, capital structure arbitrage, distressed, long/short equity and niche financing strategies. Multi-Strategy Hedge Fund of Funds aim to produce attractive return with low correlation to long-only equity and fixed income strategies.