Word: hmc
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...weeks ago, the Crimson Staff demanded that the Harvard Management Company (HMC) divest its 72,000 shares of Chinese state-owned energy giant PetroChina because of its oil operations in Sudan. The editors rightfully pointed to the connection between Harvard’s endowment funds and the atrocities in Sudan. Through its investments in companies that continue to operate in genocidal Sudan, Harvard provides political and financial cover to businesses whose tax revenues and advanced technology arm Khartoum for the battle it wages against its citizens each...
...management company’s stellar fiscal year reinforced its status at the helm of institutional investing. Over 10 years, HMC has posted an average annual return of 14.7 percent...
...abundance of press coverage examining the managers’ salaries have dogged administrators and press officers at the University, but it remained unclear whether the seven-member clan of alums who drew so much media attention this year represented a broader opposition to compensation policies at HMC...
...April interview, Vice President for Finance Ann E. Berman said the compensation issue had been blown out of proportion by media coverage. And Joe Wrinn, the University’s chief spokesperson, agreed enthusiastically, having spent the school year personally dealing with inquiries into the HMC policy...
Bowing to some of the mounting pressure, the HMC board voted in March to lower the maximum compensation for its fund managers. Summers told The Crimson that the new caps would prevent payouts on level with last fiscal year...