80-90% of the return on any institutional investment structure will be determined by the asset allocation decision.

As we work with our clients to determine their Investment Policy, we begin to establish the appropriate asset allocation targets within that policy.  Central to the discussion is the determination of the various asset classes that are both available and reasonable within the context of the institution.  Issues of diversification and strategic allocation are reviewed and discussed.

Further, once a policy is determined, we work with the clients to establish a reasonable rebalancing program.  Every institution must weigh the costs and benefits of rebalancing in terms of liquidity, transaction costs, tracking error and cash flow needs.