“‘I’d heard that endowments were in general strong performers, but they are even stronger than I had anticipated,’ Harris admits. The investment chief describes endowments as the ‘most aggressive institutional alpha seekers’ in operation, with the top-20 funds earning somewhere between 100 and 150 basis points of annual excess return compared with the rest of the peer universe.
Top endowments’ boards are stacked with high-achieving, experienced investment professionals — a marked difference from the ‘salt-of-the-earth’ trustees elected at public pensions. (They ‘are wonderful, commonsense people, but don’t have the same amount of investment experience,’ Harris explains diplomatically.)
Utimco’s board members, for instance, have backgrounds in hedge funds, venture capital, and public markets.”
Supporting the mission of higher education attracts top performers.
Post by Marcelino Pantoja