Word: hmc
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...Harvard Management Company (HMC), which manages the University’s endowment, attributed the high payouts to the managers’ job performance, which earned the University $700 million above market returns in FY03...
...HMC fund managers’ usually take home a base salary of roughly $400,000, and their annual neutral bonuses are typically in the $100,000-range...
...This compensation deal is a good deal for Harvard,” said Meyer, one of the top six earners in the HMC. “If we had used external managers and gotten the same results, it would have cost twice as much...
...this year’s considerable bonuses, HMC will consider implementing a new maximum annual compensation for fund managers, Harvard Treasurer D. Ronald Daniel told the Associated Press last night...
...letter to Summers noted that the $100 million paid to top HMC managers in 2001 and 2002 is the equivalent of “a gift of $70,000 from every member of the Class...