Word: meyerã
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Harvard’s former endowment manager, Jack R. Meyer, has raised $6 billion for his new hedge fund, an amount unprecedented for startup hedge funds, AFX News reported Sunday. However, Convexity Capital Management, Meyer??s new fund, will start without money from Harvard...
...He’s certainly in a position where he’s clearly in the line to be the chief investment officer,” Gross told Bloomberg News in November 2004.While he is a superstar in the bond field, in taking the reins of HMC from Meyer??who led the firm through record returns—El-Erian will inherit a portfolio containing a wide range of assets.Emerging markets investments account for 5 percent of Harvard’s holdings and bonds comprise another 22 percent. The University’s diverse holdings range from traditional...
...appointment of El-Erian to the CEO seat concludes a search that stretched over 10 months. With no chief named upon Meyer??s departure two weeks ago, Nadosy, a former president of Morgan Stanley Asset Management, was named interim chief investment officer...
...temporarily taken over while Meyer & Co. are acting as advisers. Additionally, several news sources have reported that a variety of people have turned down the Harvard job. Although University treasurer and HMC board chair James F. Rothenberg ’68 said the process of finding Meyer??s successor is moving along, he did tell The Crimson that “people recognize that taking this position will put you a little bit in a fishbowl.” In other words, the scrutiny that the top job at HMC comes with has turned away top talent...
...Harvard paid out a base fee of .26% plus incentives (positive or negative) on the nearly half of Harvard’s endowment that HMC manages. Given the disparity between the market rate and HMC’s rate—the first nearly double the second, according to Meyer??alumni have no basis for complaining about the salaries paid to HMC’s top talent. Indeed, Harvard should be ready to pay HMC employees even more if that’s what it takes to attract talented managers...