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Cash

Including currency holdings, term deposits, certificates of deposit, government bills (<12 month), commercial paper, money market notes.

Equities

Listed equity including large-, mid-, and small caps, including REITs, MLPs, and convertible securities.

Equities US

Listed equity of US-listed companies including large-, mid- and small-cap, including US-domiciled REITs, MLPs, and convertible securities.

Equities Eurozone

Listed equity of Eurozone-listed companies including large-, mid- and small-cap, including Eurozone-domiciled REITs and convertible securities.

Equities UK

Listed equity of UK-listed companies including large-, mid- and small-cap, including UK-domiciled REITs and convertible securities.

Equities Japan

Listed equity of Japan-listed companies including large-, mid- and small-cap, including Japan-domiciled REITs and convertible securities.

Equities Switzerland

Listed equity of Switzerland-listed companies including large-, mid- and small-cap, including Switzerland-domiciled REITs and convertible securities.

Bonds

Bonds High grade

AA or greater rated federal, state, agency, government, or supra-national bonds, including Treasuries, municipals, TIPS, and agency MBS. Also includes AA or greater rated developed market corporate credit.

Bonds Investment grade

BBB to AA rated developed market corporate credit, supra-national, agency, municipal securities, or government debt, including preferred securities.

Bonds High yield

BB or lower rated developed market corporate credit, or supra-national, agency, municipal securities, or government debt, including distressed debt and senior loans.

Bonds Emerging market debt

Corporate credit or government debt issued by emerging market countries or corporations domiciled in emerging markets.

Alternative investments

Hedge funds, private markets investments (including unlisted private equity), co-mingled real estate vehicles.