Word: assetsã
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...service its maturing short-term debt. Although only $10 billion of assets were liquidated, they fetched just 60 cents per dollar of book value. J.P. Morgan, in purchasing the assets, noted that, “Our more conservative financial policy puts us at a disadvantage in buying wind-farm assets??hence the large discount.” As a result of the fire sale, Pro-SWIFT creditors experienced significant losses...
...significant increase from the 99 holdings worth $771 million reported three months earlier. The SEC’s 13F report only discloses a small fraction of the University’s total investments—it does not list assets such as foreign stocks, private equity, bonds, and real assets??but suggests that in rebounding from recent market turmoil, Harvard Management Company has been boosting its investments in foreign markets by increasing shares in private companies and exchange-traded funds, which are traded like stocks and track major indices such as the Nasdaq...
...early years at HMC, Mendillo gained experience investing nearly all of the endowment’s major asset classes. She also assembled the University’s pioneering timberland portfolio, which helps hedge risk from traditional equity investments. When Mendillo took the helm at HMC last summer, real assets??like timber, agricultural land, and real estate—comprised roughly a quarter of the then-$37 billion endowment.Eventually, during these early years, she became vice president of external management, a post that had her overseeing investments in private equity, real estate, and emerging markets—a portfolio...
...Sept. 30, Harvard had roughly $460 million, or 20 percent of its total 13F listed holdings, invested in emerging markets. But by Dec. 31, those assets??then only valued at $224 million—had come to represent nearly 40 percent of its total holdings, even though Harvard had sold one-third of its emerging market equity...
Emerging market equity represented 10 percent of Harvard’s total portfolio and returned 7.6 percent in the fiscal year ending last June 30, according to University reports. Fixed-income bonds represented 13 percent of the University’s holdings, while real assets??such as real estate and investments in timber and agricultural land—comprised 26 percent...