Word: hmc
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Harvard's top money investors were well rewarded for their billion-dollar efforts last year, according to figures released by the Harvard Management Company (HMC...
Bonuses for two of HMC's highest-paid managers reached the eight-figure mark, and three other bonuses given by HMC topped $5 million...
...HMC's highest paid investment professionals for the last year was Jeffery Larson, who earned a $16.7 million after an impressive performance with foreign stocks, and bond specialist David Mittelman, who was paid $10.7 million...
According to Meyer, the modest shortfall of 1.2 percent can be attributed to misjudgments HMC made when purchasing shares in closed end funds, which are similar to mutual funds but sell at a discounted price...
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...