ENDOWMENT AND FOUNDATION INVESTMENT SOLUTIONSHELPING YOU FULFILL YOUR FIDUCIARY RESPONSIBILITIES

WHO IS FOCUSED ON POLICY ISSUES?

WHO TACKLES IMPLEMENTATION?

DO YOU HAVE CONSENSUS ABOUT OBJECTIVES, TIMEFRAMES, ASSUMPTIONS, AND RISKS?

HOW ARE YOU BALANCING THE CONTRIBUTION OF YOUR PORTFOLIO TO THE ORGANIZATION’S MISSION WITH THE REALITIES OF INVESTING IN COMPLEX GLOBAL MARKETS?

GOVERNANCEForty-nine states in the US have adopted a version of the Uniform Prudent Management of Institutional Funds Act (UPMIFA). Fiduciaries are required to adhere to the standards of care and standards of prudent investing established by this law. Mercer provides tailored education, customized reporting, timely thought leadership, and ongoing market analysis to help clients meet these requirements within their specifi c contexts.

RISKLoss of principal is only one of the investment risks facing endowments and foundations. Not being able to access required funds (illiquidity), loss of purchasing power (infl ation), and headline risk are other top concerns. Individual endowments and foundations must also consider spending policy requirements and budget constraints, as well as collateral issues such as debt covenants. Mercer understands the complexity of the risk landscape for the endowment and foundation community and has experience balancing the various risks with the need for stability and growth.

MERCER INVESTMENTSBy building a dynamic working relationship with each individual client, our experts help achieve client objectives by providing the right advice, solutions, and tools.

The assets under advisement data (Data) reported here include aggregated Data for Mercer Investment Consulting, Inc. and its a� liated companies globally (Mercer). The Data have been derived from a variety of sources, including, but not limited to, third-party custodians or investment managers, regulatory fi lings, and client self-reported data. Mercer has not independently verifi ed the Data. Where available, the Data are provided as of December 31, 2013 (the Reporting Date). To the extent information was not available as of the Reporting Date, information from a date closest in time to the Reporting Date, which may be of a date more recent in time than the Reporting Date, was included in the Data. The Data include assets of clients that have engaged Mercer to provide project-based services within the 12-month period ending on the Reporting Date, as well as assets of clients that subscribe to Mercer’s Manager Research database delivered through the MercerInsight® platform.

Copyright 2015 Mercer LLC. All rights reserved. 13805-IC-100215

KEY FACTS • More than 30 years of endowment

and foundations consulting experience.

• More than 140 clients.

• $33 billion in assets under advisement.*

OUR SERVICES • Investment strategy development.• Strategic asset allocation.• Portfolio structuring.• Investment policy development.• Manager evaluation and selection.• Performance evaluation.• Risk monitoring.• Spending policy analysis.• Proprietary research, software,

and databases.• Training and board/committee

education.• Outsourced CIO solutions.

RESEARCH • 120+ global research

professionals.**• Expertise with traditional and

alternative strategies.• Proprietary database with

leverage of 5,400+ managers.**• In-depth operational due

diligence provided by the Mercer

Sentinel team.

(*Global fi gures as of December 31, 2013) (**Global fi gures as of December 31, 2014)

RESEARCH AND TOOLSAdvisory and fi duciary management clients are supported by Mercer’s Global Investment Manager Database (GIMD™), which currently contains information on over 5,400 investment managers and more than 27,100 traditional and alternative investment strategies. In addition, Mercer’s Sentinel® division o� ers operational and specialized due diligence. Access to these powerful tools is also available as a standalone service.

ADVICEOur consultants take the time to learn the unique circumstances of your endowment or foundation and to understand the philosophy and objectives of your investment committee. With this knowledge, they provide timely advice and guidance at the appropriate level.

We o� er a broad spectrum of advisory services, including investment policy creation and documentation, economic and strategic outlooks, asset allocation review, manager due diligence, and performance reporting. Each dedicated consulting team accesses the broad expertise of Mercer to evaluate the relevance of both strategic and tactical ideas to a specifi c client’s portfolio. Recommendations are brought to the client for discussion and possible implementation.

DELEGATED SOLUTIONSFor those clients who prefer to delegate all or some of the implementation decisions to a third party, Mercer o� ers a fi duciary management solution that proactively applies the ideas and services mentioned above within the risk tolerance established by the investment committee.

RESPONSIBLE INVESTMENTS (RI)Sustainability is an issue of growing importance to endowments, foundations, and their stakeholders. Mercer’s team of dedicated RI professionals helps interested clients consider environmental, social and governance issues in their investment pools with the goal of enhancing long-term returns while managing risk and cost. Please contact us to fi nd out how we can help you fulfi ll your fi duciary responsibilities.

Please contact us to fi nd out how we can help you fulfi ll your fi duciary responsibilities.

Chris Adkersonchristopher.adkerson@mercer.com+1 314 982 5717

Russ LaMoreruss.lamore@mercer.com+1 314 982 5680

IMPORTANT NOTICES: References to Mercer shall be construed to include Mercer LLC and/or its associated companies.

PROPRIETARY AND CONFIDENTIAL: This contains confi dential and proprietary information of Mercer and is intended for the exclusive use of the parties to whom it was provided by Mercer. Its content may not be modifi ed, sold, or otherwise provided, in whole or in part, to any other person or entity without Mercer’s prior written permission.

OPINIONS — NOT GUARANTEES: The fi ndings, ratings, and/or opinions expressed herein are the intellectual property of Mercer and are subject to change without notice. They are not intended to convey any guarantees as to the future performance of the investment products, asset classes, or capital markets discussed. Past performance does not guarantee future results. Mercer’s ratings do not constitute individualized investment advice.

NOT INVESTMENT ADVICE: This does not contain investment advice relating to your particular circumstances. No investment decision should be made based on this information without fi rst obtaining appropriate professional advice and considering your circumstances.

INFORMATION OBTAINED FROM THIRD PARTIES: Information contained herein has been obtained from a range of third-party sources. While the information is believed to be reliable, Mercer has not sought to verify it independently. As such, Mercer makes no representations or warranties as to the accuracy of the information presented and takes no responsibility or liability (including for indirect, consequential, or incidental damages) for any error, omission, or inaccuracy in the data supplied by any third party. www.mercer.com