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Jewish Endowment & Foundation Investment Institute (JEFII)

Jewish Endowment & Foundation Investment Institute (JEFII). Access to Success The Goals and Vision of the Chairs of the JFNA Investment Institute. JFNA 2013 Investment Institute February 2013. Alan Leifer, President Leifer Capital Advisers Founder of Boston’s Jewish Community Endowment Pool

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Jewish Endowment & Foundation Investment Institute (JEFII)

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  1. Jewish Endowment & Foundation Investment Institute (JEFII) Access to Success The Goals and Vision of the Chairs of the JFNA Investment Institute JFNA 2013 Investment Institute February 2013 Alan Leifer, President Leifer Capital Advisers Founder of Boston’s Jewish Community Endowment Pool Co-Chair of JFNA’s Investment Institute Alan@leifer.org www.leifer.org

  2. JEFII’s Vision Our vision is for the world of Jewish philanthropy to define the standard of excellence in the governance and management of long-term capital.

  3. Increasing SAT - The Virtuous Circle of Endowment & Foundation Management Asset Allocation Manager Access Effective Execution Risk Management Size Access Talent Ultimate Goal StrongGovernance Increased JewishPhilanthropicResources SuperiorReturns EffectiveInvestment

  4. $3.8B 196 $11.6B 322 $12.6B 364 $1.6B 100 $22.7B 1,117 The Market Scope: $65 Billion in Jewish Philanthropic AssetsSplit Among 3000 Organizations $1.4B 78 $8.0B 439 $0.4B 53 $1.6B 116 Source: 2010 JFNA Annual Survey& The Institute for Jewish & Community Research, Foundation Giving 2011

  5. Annual Return Requirements and Cost of Investment Programs are Significant($ in MMs) We Allocate More to Money Managers Than We Do to Israel Source: The Institute for Jewish & Community Research, Foundation Giving 2011, Odmark Consulting

  6. We Have Two Ways To Influence The Field Increase Use of Pooling • We will encourage Jewish endowments and foundations (E&F) to invest using pooled vehicles that can deliver SAT (size, access, talent) • We will introduce and provide access to both internal and external providers • Studies show that E&F of >$1B outperform smaller E&F by up to 2.5% per year Influence on Best Practices • We will promote broader adoption of investment best practices • Building Staff • Accessing Volunteers • Benchmarking • Asset allocation • Using consultants • Fee awareness • Risk management • Fiduciary responsibility • Surveys of Jewish E&Fs show that many are not using best practices and many are underperforming their potential

  7. We Will Become a Trusted Advisor Throughout the Year 1 2 ResourceLibrary Consulting & Expert Resource TrustedAdvisor 6 3 LeveragetheNetwork IncreaseNJFIPUsage Events & Conferences Benchmarking 5 4

  8. Executing on a 10 Year Plan Will Grow Jewish Philanthropic Assets by $200 MM to >$1 Billion(assuming $0 for Development Impact) Note: Based on $5M cumulative investment of philanthropic capital to fund operations until JEFII achieves breakeven in year 5 Source: Odmark Consulting

  9. The Virtuous Circle of Endowment & Foundation Management Asset Allocation Manager Access Effective Execution Risk Management Size Access Talent Ultimate Goal StrongGovernance Gain Shareof JewishWallet Increased JewishPhilanthropicResources SuperiorReturns EffectiveInvestment

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