Sun, Mar 29, 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. Other Voices: Does the hedge fund industry benefit society?[more]

    This article was authored by Don Steinbrugge, Chairman of Agecroft Partners, a US-based global consulting and third party marketing firm for hedge funds. It is no secret that the hedge fund industry is viewed negatively by a la

  2. Private credit comes into focus for investors[more]

    Bailey McCann, Opalesque New York: As investors look for a way out of the low yield/no yield environment, private credit is becoming an increasingly attractive asset class, according to a white paper from Bayshore Capital Advisors. Private credit has grown steadily since the financial crisis as

  3. M&A - Hedge funds no longer attractive targets for banks, reinsurers, Blackstone buys stake in Christopher Pucillo’s Solus event-driven hedge fund[more]

    Hedge funds no longer attractive targets for banks, reinsurers From Institutionalinvestor.com: Swiss RE, the world’s second-largest reinsurer, is looking to sell its 15 percent stake in Jersey, Channel Islands–based hedge fund firm Brevan Howard Asset Management. Morgan Stanley reported

  4. Opalesque Radio: Threadneedle expects continuing equity volatility this year[more]

    Benedicte Gravrand, Opalesque Geneva: Investors should expect more volatility, which is signaling a "slow moving" top to the market, KKM Financial’s founder and CEO Jeff Kilburg told CNBC on Monday. And this volatility is going

  5. Hedge funds show strong performance of 2.52% so far in 2015[more]

    Komfie Manalo, Opalesque Asia: The hedge fund industry got off to a strong start in 2015 "completely unmindful" of the poor performance last year, according to data provider Preqin. According to Preqin, following a year which saw the average he

 

banner