Fund sponsors, in the face of the markets fall, should add to their equity allocations in order to maintain their strategic long-term asset allocations, Todd E. Petzel, president and chief investment officer of Commonfund Asset Management, said today in a teleconference with clients. "This takes courage, he acknowledged, favoring rebalancing to prop up equity allocations. "If your long-term equity allocation starts to flip because of the bear market, new money should be put into it. There is nothing tougher than putting new money to work in an asset class that has fallen. We would not advocate selling equities now to stem the blood flow.