Wed, May 4, 2016
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. Hedge funds see $14.3bn outflows in Q1, CTAs and multi-strategy lead net inflows[more]

    Komfie Manalo, Opalesque Asia: The hedge fund industry saw net outflows of investor capital in the first quarter of the year, totaling $14.3bn, data from Preqin showed. This continues from the $8.9bn overall net outflows that funds recorded in Q4

  2. Third Point calls Q1 "catastrophic" for hedge funds[more]

    Bailey McCann, Opalesque New York: The first quarter of this year was rocky for hedge funds based on aggregate performance from the industry, but now we are beginning to hear what the managers thought of it as quarterly letters make their way to investors. Dan Loeb, CEO of New York-based $17 bill

  3. Asia - Stabilization of China's capital outflows may hinge on Janet Yellen, Fink says China to do well this year as bubble threat postponed, Chinese hedge fund to invest in India’s infrastructure[more]

    Stabilization of China's capital outflows may hinge on Janet Yellen From Bloomberg.com: Whether China’s recent stabilization of its currency and capital outflows continues -- or downside pressure reignites -- may hinge in large part on Janet Yellen. If the Federal Reserve chair sticks to

  4. …And Finally - After all, judges are human too[more]

    From Newsoftheweird.com: In March, one District of Columbia government administrative law judge was charged with misdemeanor assault on another. Judge Sharon Goodie said she wanted to give Judge Joan Davenport some files, but Davenport, in her office, would not answer the door. Goodie said once the

  5. Comment - Unmasking the men behind Zero Hedge, Wall Street's renegade blog[more]

    From Bloomberg.com: Colin Lokey, also known as "Tyler Durden," is breaking the first rule of Fight Club: You do not talk about Fight Club. He’s also breaking the second rule of Fight Club. (See the first rule.) After more than a year writing for the financial website Zero Hedge under the n