关于机构投资者的return objective

嗨，爱思考的PZer你好：

Endowment: 

目标概述，所有Endowment通用：maintain the purchasing power of the assets into perpetuity while achieving investment returns sufficient to sustain the spending necessary to support the university budget.

题目具体有相关数据的话，再额外补下面一句，带上题目里的数据：

primary objective is typically to achieve a total real rate of return (after inflation, HEPI) of X% (5%) with expected volatility of Y% (10% ~15% )over the long term (K years).

Foundation（目标是永续存在的Foundation）：

The primary investment objective is typically to generate a total real return over consumer price inflation of 5%, plus investment expenses, with a reasonable expected volatility (10%–15% annual standard deviation) over a 3- to 5-year period.

DB Plan：

achieve a long-term target return (usually in nominal) over a specified investment horizon with an appropriate level of risk that allows the plan to meet its contractual liabilities.

DC Plan：

prudently grow assets that will support spending needs in retirement.

Insurance：

目标1、Provide liquidity for the payment of policyholder claims in the normal course of insurance operations.

目标2、grow the Company’s surplus over the long-term.

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