{"version":"1.0","provider_name":"Cambridge Associates","provider_url":"https:\/\/www.cambridgeassociates.com\/en-eu\/","title":"The Work of a Lifetime: Spend-Down Funds - Cambridge Associates","type":"rich","width":600,"height":338,"html":"<blockquote class=\"wp-embedded-content\" data-secret=\"YyEwP8L8fz\"><a href=\"https:\/\/www.cambridgeassociates.com\/en-eu\/insight\/the-work-of-a-lifetime-spend-down-funds\/\">The Work of a Lifetime: Spend-Down Funds<\/a><\/blockquote><iframe sandbox=\"allow-scripts\" security=\"restricted\" src=\"https:\/\/www.cambridgeassociates.com\/en-eu\/insight\/the-work-of-a-lifetime-spend-down-funds\/embed\/#?secret=YyEwP8L8fz\" width=\"600\" height=\"338\" title=\"&#8220;The Work of a Lifetime: Spend-Down Funds&#8221; &#8212; Cambridge Associates\" data-secret=\"YyEwP8L8fz\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\" class=\"wp-embedded-content\"><\/iframe><script type=\"text\/javascript\">\n\/* <![CDATA[ *\/\n\/*! This file is auto-generated *\/\n!function(d,l){\"use strict\";l.querySelector&&d.addEventListener&&\"undefined\"!=typeof URL&&(d.wp=d.wp||{},d.wp.receiveEmbedMessage||(d.wp.receiveEmbedMessage=function(e){var t=e.data;if((t||t.secret||t.message||t.value)&&!\/[^a-zA-Z0-9]\/.test(t.secret)){for(var s,r,n,a=l.querySelectorAll('iframe[data-secret=\"'+t.secret+'\"]'),o=l.querySelectorAll('blockquote[data-secret=\"'+t.secret+'\"]'),c=new RegExp(\"^https?:$\",\"i\"),i=0;i<o.length;i++)o[i].style.display=\"none\";for(i=0;i<a.length;i++)s=a[i],e.source===s.contentWindow&&(s.removeAttribute(\"style\"),\"height\"===t.message?(1e3<(r=parseInt(t.value,10))?r=1e3:~~r<200&&(r=200),s.height=r):\"link\"===t.message&&(r=new URL(s.getAttribute(\"src\")),n=new URL(t.value),c.test(n.protocol))&&n.host===r.host&&l.activeElement===s&&(d.top.location.href=t.value))}},d.addEventListener(\"message\",d.wp.receiveEmbedMessage,!1),l.addEventListener(\"DOMContentLoaded\",function(){for(var e,t,s=l.querySelectorAll(\"iframe.wp-embedded-content\"),r=0;r<s.length;r++)(t=(e=s[r]).getAttribute(\"data-secret\"))||(t=Math.random().toString(36).substring(2,12),e.src+=\"#?secret=\"+t,e.setAttribute(\"data-secret\",t)),e.contentWindow.postMessage({message:\"ready\",secret:t},\"*\")},!1)))}(window,document);\n\/* ]]> *\/\n<\/script>\n","thumbnail_url":"https:\/\/www.cambridgeassociates.com\/wp-content\/uploads\/2023\/01\/SpendDown.jpg","thumbnail_width":1437,"thumbnail_height":1077,"description":"A growing number of institutions and families are choosing to spend down assets over a limited time, rather than investing in perpetuity. There are valid arguments for\u2014and against\u2014using a spend-down approach to achieve philanthropic and investment goals. This paper provides historical context for spend-down funds, considers nuances for achieving good governance, and suggests an approach for dynamic asset allocation strategy, with case studies as illustrations."}