Word: investers
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However, the Corporation specified that the ACSR would perform a case-by-case review of the companies in Harvard’s stock portfolio, aimed at evaluating their dealings with South Africa and recommending whether Harvard should continue to invest in related companies...
Meyer is not alone in his decision to depart. Vice President of Trusts David W. Scudder ’57, who helped Harvard get clearance from the Internal Revenue Service (IRS) to allow donors to invest their charitable trusts in the Harvard endowment, will leave July 1 to start an investment management firm in Boston. And in July 2004, foreign equity manager Jeffrey B. Larson left Harvard along with 14 members of his team to start a hedge fund, Sowood Capital Management...
While HMC handles its investments with an internal, 175-person staff, most universities and colleges—including Yale, Princeton, and Stanford—largely rely on outside managers to invest their endowments...
...successor will have a number of options for the direction to take Harvard’s endowment. One possibility, he says, is that the new CEO could choose to maintain internal management for some assets, but increase the use of outside managers, changing the mix from 50 percent invested externally to, say, 65 percent. Another potential choice facing the CEO is for Harvard to invest securities through hedge funds via external managers but focus its in-house efforts on asset classes like timber...
...Harvard, the chief disadvantage to external management could be decreased performance, because some top-tier external managers only permit each investor to invest a few million dollars. This means that Harvard would have to work with scores of different investors to manage its billions...