The Endowment Pool is a diversified, multi-asset class portfolio of primarily active managers invested for long-term growth and appreciation. The Endowment Pool is invested over an indefinite time horizon, although results are intended to be measured over a full market cycle. Given the long-term orientation of the Endowment Pool, we think it is reasonable to allow for a level of short-term volatility, which can benefit longer-term return potential. Most of the pool is allocated to global equities, both public and private, which seeks diversification by style, geography and sector. There are also meaningful allocations to fixed income, alternative assets and real assets to provide differentiated drivers of return and risk.

As of today, the approximate target asset allocation for the Pool is 17 percent cash & fixed income, 50 percent equities, 15 percent alternative assets (hedge funds), 10 percent private equity, and 8 percent real assets. These targets are likely to evolve over time depending on the market opportunity set. This is the primary vehicle used by CCF for the investment of its permanent funds.