Jul. 01, 2024

TIFF Multi-Asset Fund

The following table replaces the “Fees and Expenses of the Fund” Table and Example on page 1 of the Prospectus and the Summary Prospectus:

Fees and Expenses of the Fund

This table describes the fees and expenses that you may pay if you buy, hold and sell shares of the Fund.

Shareholder Fees (fees paid directly from your investment):

Shareholder Fees (fees paid directly from your investment):
	None
Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment):
Management Fees	0.79	%
Other Expenses	0.52	%
Other Expenses	0.27 %
Expenses for Securities Sold Short	0.25 %
Acquired Fund Fees and Expenses	0.59	%
Total Annual Fund Operating Expenses [a]	1.90	%

[a] Total Annual Fund Operating Expenses does not correspond to the ratio of expenses to average net assets shown in the Financial Highlights section of the prospectus, which reflects the operating expenses of the Fund and does not include Acquired Fund Fees and Expenses.

Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment):

Shareholder Fees (fees paid directly from your investment):
	None
Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment):
Management Fees	0.79	%
Other Expenses	0.52	%
Other Expenses	0.27 %
Expenses for Securities Sold Short	0.25 %
Acquired Fund Fees and Expenses	0.59	%
Total Annual Fund Operating Expenses [a]	1.90	%

[a] Total Annual Fund Operating Expenses does not correspond to the ratio of expenses to average net assets shown in the Financial Highlights section of the prospectus, which reflects the operating expenses of the Fund and does not include Acquired Fund Fees and Expenses.

Example

This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the Fund for the time periods indicated, and then redeem all of your shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be:

1 Year	3 Years	5 Years	10 Years
$193	$597	$1,026	$2,222