Word: managerized
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At the Vitamin Shoppe, assistant manager Jesse Rizutko said sales were up because of the Atkins diet craze.
Indeed, Manoj Nayak, the assistant manager of J. August, a store that sells Harvard merchandise, said more tourists were stopping by.
J. August Manager Dimitri Tragos added that the weakness of the dollar had also been helping sales since it made his goods cheaper for foreigners.
These managers, often former investors at HMC, operate independent funds endowed with Harvard money. Jeff Larson, a top investor at the management company, will become the fifth fund manager in six years to spin off his own fund from the company when he departs on June 30.
Sowood Capital Management, Larson’s $2-billion hedge fund, will receive an initial investment of $500 million from HMC. Harvard will also invest $200 million in an exclusive commodities fund operated by Larson. All told, the spin-off will place around an additional 3 percent of the University...