Vanguard adds pool to charitable program

The Vanguard Charitable Endowment Program today introduced a new investment option called the Select Multi-Asset Pool, an investment pool that is actively managed and invests in a broader range of asset classes than the program’s other pools. The Select Multi-Asset Pool will invest in The Investment Fund for Foundations’ Multi-Asset Fund. TIFF, based in West Conshohocken, Pa., which was created in 1991 and serves foundations and other nonprofit organizations. The Multi-Asset Fund began accepting assets on March 31, 1995 and held approximately $2.1 billion in assts as of Aug. 31, according to a statement from Vanguard. The fund has a multi-manager structure and invests in a globally diversified portfolio of equities, fixed income instruments, REITs, commodities and other securities. A portion of the fund is allocated to selected hedge fund investments. Based in Malvern, Pa., The Vanguard Charitable Endowment Program is a public charity. The Program has more than 6,000 donors, $1.6 billion in assets and more than $1.3 billion in grants to other public charities since its inception in 1997.