Word: assets
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...Tasch has devoted much of his career to merging asset management and philanthropy. Most recently, for 10 years up to 2008 he was Chairman of Investors' Circle, a network of venture capitalists, angel investors, and foundations that uses private money to promote the shift to a sustainable economy. Here, Tasch incubated the ideas (and ideals) that became Slow Money...
...This is very valuable research, and Rui has been a great asset to us this summer,” said Jamison. “We anticipate recording our findings and submitting the results to some journals...
...whole, the endowment performed 2.1 percent worse than the Policy Portfolio—a theoretical portfolio set by HMC specifying allocations and setting performance goals among a mix of asset classes. But certain individual assets have performed well. The report noted that the value of Harvard’s real asset holdings fell by 37.7 percent—slightly less than the benchmark—and that internal emerging markets and international fixed income teams outperformed their benchmarks as well...
Mendillo partly attributed the endowment’s underperformance to “complications” within the portfolio existing before the financial crisis, including “recent over-sized commitments to illiquid asset classes; within asset classes, a larger proportion of strategies with long holding periods; [and] a lack of ready liquidity in the portfolio to meet our obligations along with the needs of the University.” For years, Harvard has been the subject of scrutiny—and idolatry—as its endowment consistently generated double-digit yearly investment returns, largely...
...With perfect hindsight we and most other investors would have started this year in a more liquid position and with less exposure to some of the alternative asset categories that were hardest hit during FY 2009,” Mendillo wrote in the report...