NL62 Wall St. Money versus Harvard comp

09 / 29 / 2014
by Charles Skorina | Comments are closed
HARVARD VS. WALL STREET MONEY MANAGERS:

WHO REALLY MAKES MORE?

Harvard Management Company, which runs the university's $36 billion endowment, is under fire - again - from a contingent of aging activist alums who object to HMC's executive paychecks.

The same sexagenarian social-justice warriors from the class of '69 who drove chief investment officer Jack Meyer out of office in 2005 have now issued an open letter to university president Drew Gilpin Faust alleging that salaries and bonuses of her investment professionals are unconscionable and should be cut.

We disagree.

Harvard salaries are nothing remarkable compared to those of people running similar amounts of money on Wall Street.  And, if Harvard can't pay near-Wall Street salaries they can't reasonably expect to hire and keep the best available talent.

We have tables below with the pay and AUM of 50 top Wall Street CEOs which make that point.



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NL61 Performance and pay at the largest US and Canadian pensions

09 / 17 / 2014
by Charles Skorina | Comments are closed

PERFORMANCE AND PAY AT THE LARGEST U.S. AND CANADIAN PUBLIC FUNDS

SCOTT EVANS AND GORDON FYFE: NEW HEADS AT THE NYC AND BC PENSION SYSTEMS

JONATHAN HOOK: WHAT WENT WRONG AT OHIO STATE UNIVERSITY?



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NL60 HARVARD TURNS THE PAGE, THE AGE OF ASSET MANAGEMENT

07 / 15 / 2014
by Charles Skorina | Comments are closed

JANE MENDILLO: HARVARD TURNS THE PAGE

We were not altogether surprised to learn last month that Jane Mendillo was stepping down from her position as president and CEO of Harvard Management Company, although neither Harvard nor Ms. Mendillo had hinted that the move was imminent…

SURFING THE AGE OF ASSET MANAGEMENT: WILL THE TIDE OF GLOBAL AUM LIFT ALL BOATS?

The future looks bright for investment-management professionals as global assets under management surge from the current estimated $87 trillion dollars to a projected $400 trillion in 2050.

Andrew G. Haldane of the Bank of England recently declared that global assets under management presently stand at about $87 trillion and says they'll rise 15 percent to $100 trillion by 2020, just five years from now…



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NL57 Performance and pay at our great public universities

05 / 13 / 2014
by Charles Skorina | Comments are closed

ENDOWMENT PERFORMANCE AND PAY AT OUR FLAGSHIP STATE SCHOOLS:

Last year we published our first annual review of endowment performance at the biggest and best public colleges.  See: http://www.charlesskorina.com/nl-46-performance-pay-and-the-rest-of-the-story/

The public-college endowments garner much less attention than Harvard or Yale.  They're a bit smaller, and they're scattered across the country in uncouth fly-over states outside the Northeast Media Corridor.  And their graduates are statistically less likely to land in the White House.  But attention must still be paid.

For one thing, as our survey last year demonstrated, many Public Ivy investors have been kicking the assets of their Private Ivy "betters" for years.  As of fiscal year 2012, the Universities of Virginia, Michigan, Pittsburgh and Texas(and Penn State) all had five-year returns superior to HarvardYale or Stanford.



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NL54 Skorina’s Ultimate Outsourcer List, Ver 3.2

03 / 31 / 2014
by Charles Skorina | Comments are closed

Skorina’s Ultimate Outsourcer List, Version 3.2

We present our all-new, freshly-researched list of OCIOs: firms offering "outsourced chief investment officer" services to endowments, foundations, and charities.  The list has grown to 77 firms and we think it's the most comprehensive and useful in the industry.

This list should help anyone considering the OCIO option.  We are thinking specifically of board members and directors at pensions, endowments, foundations, and other tax-exempt funds.  You now have a comprehensive list of firms who provide OCIO services and how to reach them.



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