Even as many investors move into index funds, Harvard University is confident that it can keep posting above-average returns with actively managed investments, the head of the school's investment arm told Reuters.
"Outperformance will continue to be possible," Jane Mendillo, chief executive of Harvard Management Co, said at the Partner Connect 2013 industry conference sponsored by Thomson Reuters. But it will be tougher, she acknowledged. "It will be more challenging now."
Over the last two decades, Harvard's $31 billion endowment, the nation's largest, has delivered annualized returns of 12.5 percent, earning admiration and envy in global investment circles...
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