1 Domestic and International Equity consist of separately managed accounts, index funds, ETFs and futures programs. The futures programs are not fully collateralized which result in a leveraged public equity portfolio.
2 Alternative Investments consist of Private Equity, Real Estate, Hedge Funds, and Risk Parity Funds.
3 Credit Strategies consist of high yield bonds and less liquid funds investing in distressed and structured credit.
4 Cash is negative in recognition of the leverage in the public equity portfolio.