Harvard Endowment Fund to Hire External Managers

Harvard Endowment Fund to Hire External Managers

The new Head of Harvard University Endowment is going to cut its 230 staff by half and shift most of the money to external managers. Previously, Harvard hired its own managers offering multi million pay checks to top performers to oversee the fund. However, it is recently lagging behind Yale and other rivals that outsource the money to other investors they could find.

“The new Head of Harvard University Endowment is going to cut its 230 staff by half and shift most of the money to external managers.”

~ Bloomberg

The school’s endowment known as Harvard Management Co has a fund size of $35.7 billion. It lost 2% in the year ending June 2016, the worst result of the Ivy League schools.

Related Reports: Financial Times, Bloomberg

 

About Harvard Management Co

Formed in 1974, HMC manages Harvard University’s endowment and related financial assets. Its singular mission is to help ensure Harvard University has the financial resources to confidently maintain and expand its preeminence in teaching, learning, and research for future generations.

HMC pioneered and continues to implement a unique approach to endowment management. Under our “hybrid model” of investing, we manage money through internal investment professionals, as well as through relationships with third-party managers. This approach provides depth and breadth to HMC’s market perspectives. Our Public Markets team brings top-quality investment management to HMC’s trading platform and our Alternative Assets team ensures access to cutting edge capabilities from specialized teams around the world. Active management through both these platforms enables HMC to be nimble and responsive to changing market conditions.

Visit: Harvard Management Co

 


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