Thu, Sep 3, 2015
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Harvard University’s endowment gains 11.3% on equities and hedge fund portfolios

Monday, September 30, 2013

Precy Dumlao, Opalesque Asia:

The world’s wealthiest school Harvard University gained 11.3% on its endowments to $32.7bn and exceeded its benchmark by 233 basis points for the fiscal year ended June 30, 2013. The endowment earned $600m from its investments in U.S. and foreign public equities and hedge funds.

In its annual report, Jane Mendillo, chief executive officer of Harvard Management Co., said that this is the fourth consecutive year in which HMC exceeded its benchmark. Over the last three years the average annual return on the Harvard endowment has been 10.5%, compared with the average annual return on the Policy Portfolio of 9.1%.

HMC lost 27% at the height of the financial crisis in 2009. Mendillo said Harvard is still trying to recoup those losses. At its peak in 2008, HMC’s assets reached $36.9bn.

Mendillo said, "I am very proud of the internal and external managers we have in place and the results they have achieved. We have made a strong recovery since the global economic downturn of 2008-2009."

Still, Harvard trailed its Ivy League rivals like Yale University which gained 12.5% through June and the University of Pennsylvania which reported 14.4% gains and the Massachusetts Institute of Technology which reported an 11.1% returns on its investments.

According to Mendillo, markets outside the U.S. resp......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing


  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Cliff Asness attracts $360 million as liquid alternative funds hold up[more]

    From Bloomberg.com: As U.S. stocks suffered their worst month in more than three years in August, Clifford Asness’s managed futures fund was able to profit. Investors are taking notice. The $9.12 billion AQR Managed Futures Strategy Fund pulled in an estimated $360 million in net subscriptions last

  2. Performance - Einhorn and Loeb's hedge funds both decline 5% in August, Some target-date funds miss in the market turmoil[more]

    Einhorn and Loeb's hedge funds both decline 5% in August From Reuters.com: Hedge fund billionaires David Einhorn and Daniel Loeb saw their main funds lose roughly 5 percent in August during a dramatic market sell off, two people familiar with their returns said on Monday. Einhorn's

  3. Opalesque Exclusive: When the SEC calls, fund managers need to get out of their own way[more]

    Bailey McCann, Opalesque New York: New pressure is hitting alternative investment funds from all angles. So far this month both hedge fund and private equity players have seen enforcement actions, and subsequent fines over fees, disclosures, and misleading statements. Citi one of the biggest

  4. Fortress hedge fund manager David Dredge says markets trouble on the way[more]

    From AFR.com: David Dredge of global hedge fund Fortress has built a career studying, predicting and protecting against the world's major financial crises. The recent convulsions in global sharemarkets are "just the beginning" of a painful adjustment as money drains from the emerging market economie

  5. North America - Puerto Rico agency plans talks with hedge fund creditors[more]

    From WSJ.com: Puerto Rico’s Government Development Bank is planning to begin confidential debt-restructuring talks with hedge funds that own its bonds as early as next week, said a person familiar with the matter. The parties are set to discuss a plan under which the investors would lend additional

 

banner