Saturday, 20 September 2014
Last updated 20 hours ago
Sep 10 2010 | 11:43am ET
Harvard University’s giant endowment began to turn things around in its last fiscal year, thanks in large part to its hedge fund investments.
The Cambridge, Mass., school’s endowment, the largest in the world at US$27.4 billion, returned 11% in the year ended June 30. That trailed the median return of institutional funds over the period tracked by Wilshire Associates, but it’s a whole lot better than the 27.3% it lost in the previous fiscal year.
The endowment’s absolute return investments chipped in a 15% return, while private equity returned 16%. Still, Harvard, one of the pioneer investors in hedge funds and private equity, is cutting back on its use of the asset classes, slashing its p.e. investments by more than 40% and cutting its use of outside managers by 20%.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.