Word: meyers
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...Meyer says that his 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...
...could change a little bit,” Meyer says...
Despite the avalanche of departures from HMC, Meyer says that the current mix of internal and external management could also be maintained if the firm’s leadership believes that route is practical...
...Meyer cautions against premature speculation about what structural changes his successor will implement, noting that upon his arrival at HMC in 1990 he had a history of externally managing funds at previous jobs but embraced the internal model...
...Meyer says for several years the percentage of the endowment invested internally rose from 80 to 85 percent before declining as managers left the company...