Harvard Management Company reported hedge fund gains of 11.6% for the year ending 30 June 2011, following a restructuring of the absolute return portfolio over the past few years.
The returns beat the hedge fund benchmark of the Dow Jones Credit Suisse Broad Index by about 200 basis points. In its annual report, the investment office for the $32 billion endowment said it was now happier with the mix of managers and strategies in the hedge fund portfolio.
The entire Harvard investment portfolio returned 21.4% for the year. Jane Mendillo, president and CEO