Thought required

26 September 2014 By Martin Hutchinson

Stephen Blyth is taking over the university’s $36 bln endowment at a time when its investment strategy is faltering. Its 2014 performance was even bested by Ivy rival Yale. Calpers’ decision to ditch fee-heavy hedge funds may give Blyth a useful roadmap for reviving returns.

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Harvard University on Sept. 25 named Stephen Blyth as the new head of the Harvard Management Co, which manages its $36 billion endowment. Blyth is a Cambridge University mathematics graduate who was an academic from 1988 to 1994. He worked for HSBC, Morgan Stanley and Deutsche Bank from 1994 to 2006 and has combined work at HMC with a statistics professorship at Harvard since 2006.

The Harvard endowment reported a 15.4 percent return for the year to June 30, 2014, boosting its size to $36.4 billion, still less than the $36.9 billion it recorded at June 30, 2008

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