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The company's chief may have earned mediocre returns but he was a paragon of political fidelity.
Perversely, the agencies' mediocre returns may protect them from being wiped out by nimbler competitors.
Even those mediocre returns may be better than many smaller endowments, which, like Harvard, may be facing losses.
Those with mediocre returns and short track-records will be the victims of an industry-wide reshuffle.
Sceptics have long argued that for all the skill they claim to possess, hedge funds just use cheap money to amplify mediocre returns.
Funds that do badly or implode are not usually included in the indices at all.Why would any client continue to pay for such mediocre returns?
Similar(34)
GE's finance arm made a mediocre return on equity of 8% last year; most global banks operate under similar capital rules and did worse.
The Liverpool defender blames the sale of Luis Suárez to Barcelona as the main cause of the team's mediocre return last season.
Cook will not be going to the Caribbean and has two months to sift the debris of a disastrous tour and work also on his batting after a mediocre return in both formats.
"What's the highest scoring opening weekend in history?" The 27 goals scored last weekend was actually a distinctly mediocre return in comparison to most opening weekends, despite Fulham and Swansea's best efforts.
Despite the mediocre return, investors have flocked to the fund.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com