Word: putnam
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Harvard plans to set up its own management company to handle a major part of its endowment, George Putnam '49, Treasurer of Harvard College, announced yesterday...
...Putnam said the new Harvard Management Company--which would be entirely owned by the University--would manage one-third to two-thirds of Harvard's $1.4 billion endowment, the largest university endowment in the world. Putnam said the rest of Harvard's stocks and bonds would be divided into lots worth $100 million each and split up among three as yet unchosen management firms...
...State Street Research and Management Company, which is headed by former Harvard treasurer George F. Bennett '33, managed Harvard's endowment for a nominal fee from 1948 until last Spring, when Bennett left Harvard. At that time, Putnam said he favored giving part of Harvard's endowment to each of several investment firms, though he mentioned that setting up a Harvard management company or continuing to employ just one outside firm were other possibilities...
...Putnam did not say why Harvard had decided to set up its own company--a decision which still must be approved by the Overseers' committee on financial policy...
...motion was easily defeated. The SDS position was simply that Harvard, for moral and political reasons, should refuse to allow ROTC on its campus. SDS, like the other organizations, lacked a formal vehicle to bring its proposals before the Faculty. But on November 20, the organization announced that Hilary Putnam, professor of Philosophy, would present its case for total expulsion...