THE WELL-ENDOWED IVIES STUDY EXPLAINS WHY RICH GET RICHER

摘要

Among university endowments, an Ivy League pedigree may be the key to success. That's one insight of a soon-to-be-published analysis of university endowment performance by Josh Lerner, a professor at Harvard Business School. "Secrets of the Academy: The Drivers of University Endowment Success" reports that although Yale, Harvard and other elite endowments have persistently posted strong performance thanks to greater exposure to such alternatives as private equity and hedge funds, such strategies have proved less effective outside the Ivy League and other top schools.