Emerging Endowments & Foundations
Tenet's OCIO services are designed for developing portfolios that deserve the same disciplined approach as the largest allocators.
Tenet's OCIO services are designed for developing portfolios that deserve the same disciplined approach as the largest allocators.
Outsourced Chief Investment Officer (OCIO)
Tenet's OCIO service is built for organizations with developing portfolios in a formative stage of their investment program, where a disciplined yet straightforward investment framework and fee-aware portfolio construction can have an outsized impact on long-term outcomes. Tenet supports the creation of investment committees and the establishment of governance principles that guide decision-making, providing the structural foundation for investment decisions made with clarity, consistency, and accountability.
Tenet recognizes that trustees and investment committee members serve in a fiduciary capacity on behalf of their organizations. As a fiduciary, our interests are fully aligned with those of our clients. By providing a rigorous, well-documented investment process, clear governance frameworks, and transparent reporting, we help ensure that every member of your committee can fulfill those responsibilities with confidence regardless of their investment background.
Establishing a governance framework and rigorous investment policy as foundational elements of investment management.
Designing and implementing a diversified asset allocation plan that balances return objectives with disciplined risk management across market cycles.
Evaluating manager track records, fee structures, and risk characteristics before committing client capital.
Ongoing monitoring and rebalancing to ensure portfolios remain aligned with objectives as markets evolve.
Investment Consulting
Tenet's Investment Consulting offering can benefit mission-driven organizations through a broad range of services. Each engagement is scoped in collaboration with the client, with deliverables shaped around the organization's particular circumstances, priorities, and needs. Tenet will also engage with Investment Consulting clients as an independent investment committee member on an interim or longer-term basis.
An OCIO assumes responsibility for the day-to-day management of an organization's investment program utilizing an investment framework aligned with the client's objectives and governance structure. For organizations without a dedicated internal investment staff, an OCIO provides the expertise, process, and accountability of an institutional investment function without the overhead of building one internally. Additionally, OCIOs provide their E&F partners with consistency and institutional knowledge that endure despite turnover in investment committee membership.
Tenet's OCIO services are specifically designed for "Emerging" organizations seeking outsourced investment management but who may be underserved by larger firms oriented toward more significant asset bases. As your asset base increases and the organization's investment needs grow with it, our service offering provides clients with an ability to evaluate new OCIO offerings and then transition to a new firm smoothly and efficiently. We also offer this service to E&F that are not OCIO clients already but have a specific need that can be met through a one-off, limited scope engagement.
Consistent investment outcomes begin with sound governance. Through the collaborative work we do with our clients, we support the development of governance principles, investment policy statements, and decision-making frameworks — providing clarity, consistency, and long-term accountability. This structural foundation is as important as portfolio construction in building a durable investment program.
Additionally, we support governance by striving for simplicity. Because Emerging E&Fs often do not have a dedicated Investment Committee — or even when they do, the membership may not include focused investment professionals — we strive to simplify investments so that all members can contribute to the process regardless of their background.
Beyond the governance-related benefits of simplicity, this approach reduces our clients' fees compared to more complex offerings. Value leakage through excessive manager fees and trading costs can meaningfully erode long-term returns. Tenet applies rigorous scrutiny to manager selection and portfolio construction to ensure that costs are warranted by the value delivered, and that each client's capital is working as efficiently as possible toward its intended purpose.
Yes. As a fiduciary, Tenet is obligated to act in the best interest of each client. Clients can be confident that every recommendation and decision is driven solely by their investment objectives and organizational mission.
OCIO fees are based on the value of assets under management and are billed quarterly in arrears. The fees paid to Tenet are separate from other costs clients may incur, including custodian fees, trading costs, and underlying fund expenses.
Investment Consulting engagements are priced on a fixed-fee basis. Tenet collects half of the fee in advance with the remainder paid in monthly or quarterly installments at the beginning of each month or quarter.
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