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The Journal of Wealth Management

The Journal of Wealth Management

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Primary Article

A New Endowment Distribution Plan

How to Insure Current Spending While Growing the Fund Corpus

Bala G Arshanapalli, Edmond L D'Ouville and William B Nelson
The Journal of Wealth Management Spring 2004, 6 (4) 24-28; DOI: https://doi.org/10.3905/jwm.2004.391054
Bala G Arshanapalli
The Gallagher-Mills Chair in Finance, at the School of Business and Economics of Indiana University Northwest in Gary, IN.
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  • For correspondence: barshana@iun.edu
Edmond L D'Ouville
An associate professor of accounting, at the School of Business and Economics of Indiana University Northwest in Gary, IN.
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  • For correspondence: edouvill@iun.edu
William B Nelson
A professor of finance, at the School of Business and Economics of Indiana University Northwest in Gary, IN.
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  • For correspondence: wnelson@iun.edu
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Abstract

The management of an endowment fund poses unique investment challenges. Obviously there is the choice concerning the allocation of the endowment corpus between riskier investments with higher returns and virtually risk free investments. There is also a need to provide stability in the amounts distributed for spending to further the purposes of the endowment. The authors show one way to achieve these objectives is to split the fund principal between essentially risk-free commercial annuities for a selected fixed term and a diversified stock portfolio. This will allow the fund to guarantee fixed expenditures for current needs and provide an excellent opportunity to grow the fund.

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The Journal of Wealth Management
Vol. 6, Issue 4
Spring 2004
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A New Endowment Distribution Plan
Bala G Arshanapalli, Edmond L D'Ouville, William B Nelson
The Journal of Wealth Management Jan 2004, 6 (4) 24-28; DOI: 10.3905/jwm.2004.391054

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A New Endowment Distribution Plan
Bala G Arshanapalli, Edmond L D'Ouville, William B Nelson
The Journal of Wealth Management Jan 2004, 6 (4) 24-28; DOI: 10.3905/jwm.2004.391054
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