Wednesday, 1 October 2014
Last updated 5 hours ago
Oct 21 2013 | 11:12am ET
Yale University's endowment is a pioneer in alternative investing. But its taste for private equity may be waning.
The $20.8 billion endowment—the second-largest in the U.S.—has cut its p.e. target for the first time in eight years. Yale aims to have 31% of its assets invested in such funds for the fiscal year the began on July 1, compared to 35% in the previous fiscal year, The Wall Street Journal reports.
Yale would not comment on the change.
The move does not indicate that Yale has lost faith in the asset class; p.e. remains the largest part of its portfolio. And those investments have been among Yale's best, earning it a 14.4% annualized return over the past 10 years.
Yale also cut its real-estate target, but increased its hedge-fund target, as well as its targets for foreign stocks and natural resources.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
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