Investment Management at Harvard Management Company
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ICMR HOME | Case Studies Collection
Case Details:
Case Code : FINC056
Case Length : 19 Pages
Period : 2000-08
Pub. Date : 2009
Teaching Note :Not Available
Organization : Harvard Management Company
Industry : Financial Services
Countries : UK/India
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FINC056) click on the button below, and select the case from the list of available cases:
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Please note:
This case study was compiled from published sources, and is intended to be used as a basis for class discussion. It is not intended to illustrate either effective or ineffective handling of a management situation. Nor is it a primary information source.
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"It (HMC) was heavy in equities, public and private, and
hedge funds and all sorts of alternative assets, and for many years, those
assets were continuous providers of cash return. And that party has stopped."1
- John Morris, Management Director, HarbourVest Partners2, in March 2009.
"Many endowments stretched too far, and I think Harvard
did as well."3
- Jack Meyer, Former CEO, Harvard Management Company, in February 2009.
Introduction
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On February 17, 2009, 1,600 non-faculty employees of Harvard University (Harvard) received a crimson folder containing details of the early retirement benefits offered to them. Earlier, on February 11, 2009, Harvard had announced the eligibility4 criteria for those employees who would be offered early retirement.
The objective of the move was to save on operating expenses. The University also announced other cost-cutting measures that included budget cuts varying between 10% and 15% in all Harvard departments. Besides, it announced a 3.5% increase in tuition fees for the academic year 2009-10.
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Investment Management at Harvard Management Company
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