The money managers at four of America’s 10 richest colleges and universities are protégés of David Swensen, the unconventional investment chief who has helped Yale University earn a 14.4pc average annual return on its endowment since 1985 by focusing on hedge funds, private equity, real estate and other non-traditional areas. Endowments with a Swensen protégé at the helm have seen their returns exceed a benchmark of other US endowments by at least 1pc.

(Source: The Wall Street Journal)

Published in Dawn, Economic & Business, June 8th, 2015

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