Word: hmc
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Meyer added that if HMC fails to meet its benchmark this year-"a realistic possibility"-investor compensation would drop "dramatically...
...endowment lost roughly 10 percent of its value over the summer as tremors shook markets around the world. HMC investments in emerging market in Russia and domestic funds akin to hedge funds were hit especially hard...
This year's compensation swelled as result of the accumulated success of HMC in prior years. The company uses a "clawback" system where some bonuses are withheld, in case an investment loses its value...
...Maurice Samuels, an HMC fund manager who invests in foreign fixed-income, this policy led to an especially high bonus this year...
...Jacobson, Harvard's most successful investor for six of the last eight years, HMC will no longer be giving him top dollar. He announced this spring that he was leaving HMC to start his own firm, Highfields Capital...