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, illiquid Credit, and Hedge Fund strategies.
3 Fixed Income consists of domestic government bonds, investment grade corporate bonds, and tactical fixed income strategies.
4 Cash is negative in recognition of the leverage in the public equity portfolio.