We follow a process-centric approach to asset management for institutions. First, we identify investment objectives and measure the ability of the institution to take on risk. Next, we construct an Investment Policy Statement which codifies goals, risk tolerance, time horizon and asset allocation. Assets are then deployed in a cost-effective portfolio, diversified across asset classes and geographies. Finally, we actively monitor market and economic dynamics and allocations against target weights and make adjustments to the portfolio when necessary. We believe this approach gives institutions the best prospect to achieve long-term asset appreciation.