{
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    "page": 7,
    "width_pt": 612,
    "height_pt": 792,
    "rotation": 0,
    "pipeline_version": "paddleocr-vl-1.6+paul-48",
    "engine": "paddleocr_vl",
    "source_run_id": 14090,
    "item_count": 31,
    "counts_by_type": {
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    "items": [
        {
            "id": "p7.1",
            "order": 1,
            "type": "text",
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            "text": "Disciplined management of the asset allocation is necessary and desirable. Diversification of investments among assets that are not similarly affected by economic, political, or social developments is highly desirable. The general policy shall be to diversify investments so as to provide a balance that will enhance total return, while avoiding undue risk concentrations in any single asset or investment category."
        },
        {
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            "type": "heading",
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            },
            "text": "Asset Allocation",
            "attrs": {
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            "text": "To ensure broad diversification, the asset allocation will be set with the following target percentages and within the following ranges:"
        },
        {
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                    "text": "ASSET CATEGORY",
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                    "id": "p7.4.2",
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                    "text": "TARGET",
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                    "text": "RANGE",
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                    "text": "DOMESTIC LARGE CAP EQUITY",
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                },
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                    "text": "50%",
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                        "colspan": 1,
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                },
                {
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                    "text": "40-58%",
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                        "colspan": 1,
                        "bbox_refit": true
                    }
                },
                {
                    "id": "p7.4.7",
                    "order": 11,
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                    "text": "DOMESTIC MID/SMALL CAP EQUITY",
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                },
                {
                    "id": "p7.4.8",
                    "order": 12,
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                    "bbox": {
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                    "text": "20%",
                    "attrs": {
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                        "colspan": 1,
                        "bbox_refit": true
                    }
                },
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                    "id": "p7.4.9",
                    "order": 13,
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                    "bbox": {
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                    "text": "15-25%",
                    "attrs": {
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                        "col": 2,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
                    }
                },
                {
                    "id": "p7.4.10",
                    "order": 14,
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                    "text": "INTERNATIONAL EQUITY",
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                },
                {
                    "id": "p7.4.11",
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                        "t": 517.9,
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                        "b": 505.9
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                    "text": "0%",
                    "attrs": {
                        "row": 3,
                        "col": 1,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
                    }
                },
                {
                    "id": "p7.4.12",
                    "order": 16,
                    "type": "table_cell",
                    "bbox": {
                        "l": 424.17,
                        "t": 517.9,
                        "r": 448.678,
                        "b": 505.9
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                    "text": "0-5%",
                    "attrs": {
                        "row": 3,
                        "col": 2,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
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                },
                {
                    "id": "p7.4.13",
                    "order": 17,
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                        "t": 490.9,
                        "r": 114.831,
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                    "text": "FIXED INCOME",
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                        "rowspan": 1,
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                        "bbox_refit": true
                    }
                },
                {
                    "id": "p7.4.14",
                    "order": 18,
                    "type": "table_cell",
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                    "text": "28%",
                    "attrs": {
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                        "col": 1,
                        "rowspan": 1,
                        "colspan": 1,
                        "bbox_refit": true
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                },
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                    "id": "p7.4.15",
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                    "text": "23-37%",
                    "attrs": {
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                        "col": 2,
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                        "bbox_refit": true
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                    "text": "REAL ASSETS",
                    "attrs": {
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                    }
                },
                {
                    "id": "p7.4.17",
                    "order": 21,
                    "type": "table_cell",
                    "bbox": {
                        "l": 284.63,
                        "t": 463.9,
                        "r": 299.378,
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                    "text": "0%",
                    "attrs": {
                        "row": 5,
                        "col": 1,
                        "rowspan": 1,
                        "colspan": 1,
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                },
                {
                    "id": "p7.4.18",
                    "order": 22,
                    "type": "table_cell",
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                    "text": "0-5%",
                    "attrs": {
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                },
                {
                    "id": "p7.4.19",
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                    "bbox": {
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                    "text": "CASH",
                    "attrs": {
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                },
                {
                    "id": "p7.4.20",
                    "order": 24,
                    "type": "table_cell",
                    "bbox": {
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                    "text": "2%",
                    "attrs": {
                        "row": 6,
                        "col": 1,
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                        "colspan": 1,
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                },
                {
                    "id": "p7.4.21",
                    "order": 25,
                    "type": "table_cell",
                    "bbox": {
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                        "r": 448.678,
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                    "text": "0-2%",
                    "attrs": {
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        },
        {
            "id": "p7.5",
            "order": 26,
            "type": "text",
            "bbox": {
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            "text": "Domestic Large Capitalization Equity – The allocation will be represented only by investments in a large capitalization index fund such as the Vanguard S&P 500 Index Fund Admiral Shares. All investments in this asset category must be held in passively-managed index funds with low expense ratios (0.05% or less)."
        },
        {
            "id": "p7.6",
            "order": 27,
            "type": "text",
            "bbox": {
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            "text": "Domestic Mid & Small Capitalization Equity – The allocation of Mid-Cap and Small-Cap stocks will consist only of appropriate index funds from the two groups. Target investments in this asset category include the Vanguard Mid-Cap Index Fund – Admiral Shares (expense ratio of 0.05%) and/or the Fidelity Mid-Cap Index Fund or the Russell 2500 Index Fund and/or iShares Small Cap 600 Index. All investments in this asset category must be held in passively-managed index funds with low expense ratios (0.10% or less). Mid-cap stocks fall between small-cap and large-cap stocks in terms of market capitalization. These companies are generally more established than small cap companies, but may not have the same level of recognition as large-caps. Small cap stocks refer to publicly-traded companies with relatively small market capitalizations."
        },
        {
            "id": "p7.7",
            "order": 28,
            "type": "text",
            "bbox": {
                "l": 32.64,
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                "b": 161.76
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            "text": "International Equity – The allocation may consist of International Equity from time to time. This asset category represents global companies outside of the domestic large, mid- and small-capitalization equity allocation asset categories. International indexed funds are preferred."
        },
        {
            "id": "p7.8",
            "order": 29,
            "type": "text",
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                "b": 118.32
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            "text": "[p7.8.1]Any international index fund with fees no greater than 25 basis point may be accepted unless otherwise approved annually by the Board of Regents.",
            "children": [
                {
                    "id": "p7.8.1",
                    "order": 30,
                    "type": "text",
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                    "text": "^{*}",
                    "attrs": {
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        },
        {
            "id": "p7.9",
            "order": 31,
            "type": "text",
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            "text": "Fixed Income – The allocation will consist exclusively of US Treasury and Agency Bonds and bills, including US Treasury Inflation Protected Securities (TIPS) (when their returns are attractive, relative to other US Treasury securities.) The primary role of this US Government-issued fixed income portfolio is to provide a partial hedge in the event of an economic contraction, deflation, and/or a severe flight to safety/quality. It is expected that this"
        }
    ],
    "excluded_furniture": {
        "first": [],
        "last": []
    }
}