Tue, Apr 24, 2018
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. Investing - Sequoia takes Facebook stake as shares slide in data controversy, $1.4b hedge fund sees intact fundamentals for Facebook, Jim Cramer reveals some 'suggested hedge fund trades' amid the Trump tariffs[more]

    Sequoia takes Facebook stake as shares slide in data controversy From Bloomberg.com: The $4.2 billion Sequoia Fund bought a small position in Facebook Inc. as the stock slid late in the first quarter, investment manager Ruane, Cunniff & Goldfarb told clients. "The recent controversy enab

  2. Activist Investors - Blue Sky-owned Wild Breads faces uncertain future[more]

    From AFR.com: A Blue Sky private equity investment in artisan-style baker Wild Breads enjoyed multiple valuation upgrades despite losing millions and breaching its lending covenants, accounts lodged with the regulator last week show. Wild Breads lost $2.4 million in 2017, but Blue Sky ascribed a hig

  3. Opalesque Exclusive: Barnegat to close hedge fund to outside investors on weak opportunities[more]

    Komfie Manalo, Opalesque Asia: Bob Treue's Barnegat Fund Management said it is closing its $666m fixed income relative value hedge fund to outside investors. "The negative side to gains in Fixed Income Arbitrage is that unless we find new opportunit

  4. Investing - Hedge fund makes a big bet on malls, British hedge fund manager Odey short UK government bonds on QE bet[more]

    Hedge fund makes a big bet on malls From Barrons.com: The dominant narrative on American shopping malls is that they're dead. Crushed by Amazon.com, many brick-and-mortar retail stores are destined for bankruptcy. And where is the most retail, clustered all together? Malls. From a

  5. Performance - Hedge funds suffer first back-to-back loss in two years, Netflix performance burns hedge fund short sellers, Macro hedge fund up 14.5% in first quarter sees dollar falling, Renaissance Technologies rebounds across hedge funds in March[more]

    Hedge funds suffer first back-to-back loss in two years From Bloomberg.com: Hedge Fund returns sank for a second straight month in March, the first back-to-back loss since the first two months of 2016, as trade wars, tech-sector woes and a Fed rate hike dragged down the S&P 500 from its