Word: hmc
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...think the endowment actually offers a higher rate of return for the same amount of risk,” said Jack Meyer, president of Harvard Management Company (HMC), which invests the endowment...
...Looking ahead into the future, I think it is logical to say the endowment will do better than an index fund, but it’s not certain,” said David W. Scudder ’57, vice president of trusts for HMC...
Meyer said the trusts invested with the Harvard endowment would not count towards the annual endowment figure announced by the HMC. That number stood at $19.3 billion for fiscal 2003, which ended June...
...Bennett, 65, said he consistently received less than five percent each year, and the trust grew to just $5.1 million by 1999. When Bennett raised questions at that time, the HMC resigned as the manager of his trust. Morgan Stanley took over the management of the trust, though Harvard remains the beneficiary...
...HMC President Jack Meyer declined to comment on Bennett’s claims yesterday...