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The Big Mystery – What do these people do all day? Alain Hung, CFA

Delve into the strategic approach of Alain Hung in economic diversification and risk allocation. Learn how to separate beta and alpha to maximize diversification benefits and portfolio returns over 5 and 10 years. Test your knowledge with a quiz on portfolio performance ranking.

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The Big Mystery – What do these people do all day? Alain Hung, CFA

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  1. The Big Mystery – What do these people do all day? Alain Hung, CFA Associate Director of Investments

  2. WARF’s Approach • Allocate risk not capital • Separate beta and alpha • Maximize benefits of diversification

  3. R = rf +β+ α

  4. Economic Diversification

  5. Risk Allocation by Economic Environments

  6. 5-Year10-Year Portfolio Return 7.80% 7.40% Spending Rate 4.50% 4.50% +3.30% +2.90%

  7. Quiz • What was the portfolio’s 10-year annualized return as of the end of FY2016 (6/30/16)? • What was the percentile ranking of that performance in a universe of the top 35 university foundations?

  8. Reminder: Investment contest due date, tomorrow @ 3 p.m.

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