Harvard Doubles Down on Hedge Funds in Endowment Overhaul

The transcript discusses Harvard's endowment strategy under N.P. Narvekar, focusing on increased investments in hedge funds despite their recent poor performance. It highlights Harvard's proactive positioning for potential market downturns and the shedding of real assets. The transcript also covers fee negotiations with hedge fund managers and the shift towards external management. A comparison with Yale's strategy, which emphasizes venture capital and private equity, is also included.

What is the primary reason Narvekar increased Harvard's investments in hedge funds?

• To align with Yale's investment strategy

• To reduce the endowment's exposure to real assets

• To position the portfolio for a potential market downturn

• To follow the trend of high-performing hedge funds

What significant change did Narvekar implement in Harvard's endowment strategy?

• Shed real assets to improve performance

• Increased investments in real estate

• Reduced investments in hedge funds

• Focused solely on internal management

How might Narvekar have potentially reduced fees for Harvard's endowment?

• By investing in fewer hedge funds

• By negotiating bulk investment deals

• By focusing on real estate investments

• By avoiding external managers

What is a key difference between Harvard's and Yale's recent investment strategies?

• Harvard is using more external managers, while Yale is not

• Yale has increased its real estate investments, unlike Harvard

• Yale is boosting venture capital investments, while Harvard is focusing on hedge funds

• Harvard focuses on venture capital, while Yale focuses on hedge funds

Which university is known for using a lot of external managers in its investment strategy?

• Stanford

• Yale

• Harvard

• Columbia