Word: acsr
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...ethics remains a serious problem. Harvard's growing stake in venture capital investments is not a problem by itself. We recognize that high yields on the endowment are good for all of us. We object, however, to the total lack of oversight by the Advisory Committee on Shareholder Responsibility (ACSR) over such investments. Harvard Management Corporation (HMC), which controls the University's investments, has sunk more than a billion dollars into high-risk, high-yield "private placement" investments, all without a trace of accountability to anyone below the Harvard Corporation...
...urge the University to place HMC's venture capital investments under the ethical oversight of the ACSR, which already oversees investments in the equity and debt markets...
...realization of their limited jurisdictionleft many ACSR members shocked, although no formalchanges have yet been proposed to give the body astronger voice...
...ethics remains a serious problem. Harvard's growing stake in venture capital investments is not a problem by itself. We recognize that high yield on the endowment are good for all of us. We object, however, to the total lack of oversight by the Advisory Committee on Shareholder Responsibility (ACSR) over such investments. Harvard Management Corporation (HMC), which controls the University's investments, has sunk more than a billion dollars into high-risk, high-yield "private placement" investments, all without a trace of accountability to anyone below the Harvard Corporations...
...urge the University to place HMC's venture capital investments under the ethical oversight of the ACSR, which already oversees investments in the equity and debt markets...