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Article: CEO Says Harvard Management Co.'s Performance Is Best Ever.(Originated from The Boston Globe)
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- September 19, 1996
- Author:
CopyrightCOPYRIGHT 1996 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Sep. 19--Harvard Management Co., which has been criticized for the huge salaries earned by its money managers, last year posted its best investment performance ever compared with other large institutional investors.
In a letter this week to "friends of Harvard," the university's in-house money management unit reported that its total return after fees was 26 percent for the year ended June 30, compared with 17.6 percent for 88 other large institutional funds. The unit manages $8.6 billion in investments.
Jack R. Meyer, Harvard Management's chief executive, said the lead of 8.4 percentage points over other big investors was the largest in the 22-year history of ...