Endowments have charters which limit the amount of their capital that can go to high risk investments - in other words venture fund and private equity firms. Th

Endowments have charters which limit the amount of their capital that can go to high risk investments - in other words venture fund and private equity firms. This means that they need to "rebalance" their portfolios and shift money that would normally have gone into venture funds back into public markets. Am I understanding this correctly. They have a charter that determines the balance. This means that is a certain mandated class losses value, they have to top it up with funds from the other classes?