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The college savings plan named a director of investments following the departure of its cio.
The system has postponed finalist interviews in its search for consultants to oversee its portfolio due to Tropical Storm Nicole, which is expected to strike the state this evening.
The fund added the domestic small-cap equity manager to its watchlist this summer due to underperformance and will review the firm next year.
In 2016, Harvard had bad news to share in its annual financial report: Its endowment value had dropped nearly $2 billion. The report, released that November, detailed the endowment’s lackluster returns by disclosing how the Harvard Management Company performed in a variety of asset categories against internal and external benchmarks.
The firm promoted two partners to co-cios amid its former cio’s decision to step down.
David Seaman has been named president of Domain Capital Group.
The plan will seek board approval to terminate a high-yield fixed-income manager and an emerging markets equity manager.
The firm will oversee the city’s treasury investment funds.
The plan may conduct a search to replace its current underperforming hedge fund-of-funds.
The plan is set to commit $20 million annual over the next five years.