The university's vice-chancellor, Alison Richard, was previously provost of Yale, where she gained a "powerful understanding" of what a well run endowment can do.
The board is considering the request, which prompted campus debate about socially responsible investing and which helped fuel the idea of creating a student-run endowment, Mr. Meerts said.
He favors funds, like the three from Vanguard, that are run as endowments, meaning they pay out indefinitely, but with no guarantees, instead of liquidating over a specific time.
In the long run, native talent endowment and family of origin social class position run together for all members of society.
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.
Ms. Mendillo's appointment brings to an end a difficult period for Harvard, which hired Mohamed A. El-Erian in 2005 to run the endowment.
His abrupt departure came after that of the former president and chief executive, Jack Meyer, who had run the endowment for 15 years and accumulated a stellar record.
One symbol of this new reality: Harvard just chose Mohamed El-Erian, an emerging-market specialist from Pimco, to run its endowment.
One symbol of this new reality: Harvard just chose Mohamed El-Erian, an emerging-market specialist from Pimco, to run its endowment (see p. 102).
Before and after his tenure, board members ran the endowment.
"To have a member of the club running the endowment is a good thing," Mr. Allen said.
