Tue, Nov 25, 2014
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Yale Endowment posts positive performance, focuses on alternatives

Wednesday, March 19, 2014

Bailey McCann, Opalesque New York:

The Yale Endowment, currently worth over $20bn posted another positive return year for 2013 with gains of 12.5%. The endowment is closely watched as a barometer of top endowment portfolio performance, in part because it maintains significant allocations to hedge funds and private equity. Spending from the endowment is up 8% over the last ten years, and is likely to continue going up providing some context around the recent announcement that tuition costs will go up at the school.

Even with this rise in costs, endowment assets have also grown over the same period from $11.03bn to $20.78bn. In a recent report, the endowment speaks directly to recent criticism that the portfolio's emphasis on active management and alternative investments has been risky and of limited value. To wit:

"While traditional asset allocations held up well during fiscal 2009 and in the immediate aftermath of the crisis, that short term outperformance came at a heavy cost to the growth of a portfolio's value over the long term. During periods when traditional portfolios outperform critics are quick to cast aspersions on the Yale model, but traditional 60 percent equity/40 percent bond portfolios are not diversified and ......................

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 - George Soros puts $500m of his money on Bill Gross, Soros, Paulson backed Hispania Activos mulls Realia takeover, Ex-Credit Suisse trader’s hedge fund sees yen shorts as crowded, Hedge hunters double default-swaps as views split, Large hedge fund positions come under pressure, Vikram Pandit's fund picks 50% stake in JM Financial's realty lending arm for $87m[more]

    George Soros puts $500m of his money on Bill Gross From WSJ.com: Before Bill Gross was fully settled in at his new firm, Janus Capital Group Inc., he received an unlikely visit from the chief investment officer of famed investor George Soros ’s firm, according to a person familiar with t

  2. Greenlight Re CEO says hedge fund reinsurance strategy buzz is validating[more]

    From Artemis.bm: The attention being paid to the hedge fund reinsurance business model and the fact that others are now looking to leverage bits of it within their own strategies, is validating for reinsurer Greenlight Capital Re, according to CEO Bart Hedges. There has been an increasing buzz

  3. Legal - Hedge fund manager fights £8m tax tribunal ruling[more]

    From FT.com: A hedge fund manager who may have to repay £8m in tax is trying to overturn a tribunal ruling that found he had attempted to shelter millions in an avoidance scheme. Patrick Degorce, chief investment officer at Theleme Partners, lost a tax tribunal case last year. HM Revenue & Customs c

  4. Europe - Hedge funds face exit tax as Iceland central bank discusses plan[more]

    From Bloomberg.com: Hedge funds and other creditors with claims against Iceland’s failed banks face an exit tax as the island looks for ways to unwind capital controls without hurting the economy. The government targets having a plan it can present by year-end that would map out how Iceland will sca

  5. Hedge fund Oceanwood raises $2bn, to close to new investors[more]

    From Reuters.com: Europe-focused hedge fund Oceanwood Capital Management is closing its fund to new investors after its assets under management hit $2 billion (1 billion pounds) recently, a source with direct knowledge of the matter said. Oceanwood, a multi-strategy hedge fund spinout from Tudor Gro