<p>Liquidity as a strategic asset for endowments and foundations</p>

Institutional investors are placing greater emphasis on portfolio liquidity amid slower private market cash flows and higher operating demands. With private market allocations approaching 50%+ for many institutions, liquidity considerations are evolving within asset allocation frameworks.

A tiered liquidity approach allows institutions to fund operations, reduce idle cash and maintain flexibility through market stress.

ETFs offer a precise, liquid and efficient way to implement liquidity sleeves while capturing yield beyond cash.