How does the distribution rate convert into dollars distributed to the individual endowment beneficiary?
All endowments which invest in the LTF purchase units based on the LTFs market value per unit as of the date of purchase. The endowment beneficiary receives distributions on the last day of each fiscal quarter from the LTF based on the number of units owned at that time multiplied by the current distribution rate.
Related Questions
- What effect does the target distribution (spending) rate have on the amount of the distribution (the dollar payout) paid to the endowment beneficiaries in the long term?
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