Word: benchmarking
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Last week the University announced that its endowment had topped $19 billion, outperforming almost all benchmark investment goals as a result of outstanding returns from venture capital investments. In celebration, the University intends to share the news with more than 1,000 overseers, fellows and other prominent alumni. The stunning news should, at the very least, prompt the University to spend more money. Harvard's endowment payout is typically lower than most other colleges and universities. These extraordinary investment returns, coupled with signs of a healthy national economy, supports a more generous endowment spending policy...
...only area where Harvard failed to meet its benchmark was emerging markets, the accounting category including equities from developing countries...
Harvard matched but did not exceed its benchmark in the category of inflation-indexed bonds--bonds issued by the government that guarantee a rate of return above inflation. Meyer said that while HMC actively trades in the other accounting categories in an attempt to exceed their benchmark, it does not do so in this area...
...report to University officials and alumni, Meyer wrote that over the long term, the University would like to exceed its overall benchmark by 1.5 percentage points per year, much less than the 13.6 percent it accumulated this year. Over the last five years, the University has exceeded its benchmarks by an average of 3.8 percent of the margin...
...After having the weekend to contemplate the Clinton administration's debut as a player in the world crude markets, oil traders heard the sound of spigots and responded just as Bill, Al and the Eurozone had hoped. Benchmark Brent crude oil for November delivery fell by 95 cents to $30.30 per barrel in London, and even briefly hit $29.90 - the lowest intra-day level since...