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Strategic asset allocation is arguably one of the most important, yet least advanced, aspects of investing. The Investment Strategy Group (ISG) in the Goldman Sachs Investment Management Division has developed a new approach to strategic asset allocation, which leverages the idea that long-term investment returns derive from multiple distinct sources called “return-generating factors.” This multi-factor approach is designed to help investors better understand the key sources of long-term return across asset classes and to increase the precision of long-term risk and return estimates. It also provides investors with a new way to think about portfolio diversification, allowing them to focus not only on diversification across asset classes but also
on diversification across the underlying sources of return.
This case study of the Council of Michigan Foundations' Peer Action Learning Network (PALN) is one of six examined in a report from New York University's Wagner Research Center for Leadership in Action, commissioned by Grantmakers for Effective Organizations. The PALN case study, along with the other five, explores the power of learning communities to build connections and knowledge to increase organizations’ community impact. It explains ways grantmakers can strategically support these efforts as well as key elements for designing learning communities, executing for success and extending the learning.