At the end of June 2009, the management of the investment fund of funds (TIFF) is considering expanding the footprint TIFF Diversified Fund (TDF), the first truly integrated vehicle management fund offered under the banner of TIFF. Recent large capital losses incurred by the most donations, including Harvard and Yale, have been motivated by some to question the basic premises of the two investment fund model that investors get a reward for your patience illiquidity, and that diversified mix of asset classes and strategies provides meaningful protection capital losses under most market conditions. Despite this survey, investment professionals at TIFF were convinced that this model is viable as a means of generating superior long-term returns, and that TDF was the vehicle, provided current and potential clients access to TIFF this model. But they know that they need to increase their efforts to educate their customers about the benefits of this comprehensive approach to investing, and to reflect on how to change the current structure of the TDF, especially with regard to its liquidity position. "Hide
by Luis M. Viceira, Brendon C. Parry Source: Harvard Business School 34 pages. Publication Date: December 24, 2009. Prod. #: 210008-PDF-ENG
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