As with the charitable trusts, PRINCO has selected GMO, Vanguard (equity) and Aberdeen Asset Management (fixed income) to manage the funds in the Pooled Income Fund program. Aberdeen’s Core Fixed Income strategy mirrors the trust fixed-income strategy. However, there are some differences in the strategy maintained by PRINCO for the equity portion of the pooled funds: the selected funds follow a more tax-sensitive, less actively managed strategy. The reason for the difference is that pooled income funds must pay out short-term capital gains as ordinary income.
Each of the University’s three pooled funds maintains a distinct asset allocation:
Income Fund: Invests primarily in bonds. Objective is to provide high current income.
Balanced Fund: Invests in a balanced mix of stocks and bonds. Objective is to provide a balance between long-term growth in unit values and corresponding growth in income over time.
Tiger Fund: Invests primarily in stocks. Objective is to provide long-term growth in unit value resulting in higher income over the long term.
Henry Wiesenfeld's Trust in Princeton Built a Great Legacy
In 1979, Henry M. Wiesenfeld, who had no formal ties to Princeton, decided to test the waters of Princeton’s pooled income funds with a gift of $7,725. Wiesenfeld was so impressed by the results that he decided, over the following 18 years, to make a series of gifts which ultimately provided Princeton with $1.6 million.
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