Dr. Radice also served as acting assistant chairman for programs at the Humanities Endowment; chief of staff to the federal secretary of education; and chief of the creative arts division of the United States Information Agency.
REUTERS Fund Run by Endowment Chief Limits Withdrawals | A $3.3 billion fund run by the former chief of the endowment for the University of North Carolina at Chapel Hill told investors on Friday that it was limiting the amount they could take out each quarter, after years of disappointing returns, Julie Creswell reports in The New York Times.
Mr. Donovan, the housing secretary, said that so many people in Washington now know the new Endowment chief that no one bothers to use his last name.
One endowment chief noted that by shifting to funds that can be sold more easily, a more conservative strategy, Harvard may be forgoing some gains.
The fund, run by Mark Yusko, the charismatic former chief of the endowment for the University of North Carolina at Chapel Hill, sent letters on Friday to investors saying it was limiting the amount of money that could be taken out each quarter.
A20 Backing for Endowment Chief Trent Lott, the Senate majority leader, and Senator Thad Cochran, also a Republican, asked President Bush to keep their fellow Mississippian, William R. Ferris, as chairman of the National Endowment for the Humanities.
Big investors around the world have soured, FT columnist Gillian Tett reports, on what she calls the "Harvard or Yale investment model". It's really the Yale model, since it was Yale and its longtime endowment chief, David Swensen, who led the way.
In an unorthodox move for an endowment chief, Meyer built a Wall Street-like trading operation and managed most of HMC's money in-house.
Harvard endowment chief Jane Mendillo recently admitted in a report that "with perfect hindsight, we and most other investors would have started this year in a more liquid position and with less exposure to some of the alternative asset categories that were hardest hit".
Although a few high-fliers, such as Mr Swensen, are content to forgo the vast salaries they could earn at private firms top endowment chiefs rarely get more than $2m a year many have been tempted away as portable alpha of a different kind.Harvard, Stanford, Cornell and Duke have all lost their bosses over the past year and a half.
David F. Swensen, the chief of the Yale endowment, for example, is one of the most successful asset managers in recent history, consistently earning outsize returns and often beating the best hedge fund performers.
