You might not know Alice Handy’s name. But Harvard does. And so does Yale.Handy manages the endowments of Smith, Barnard and Middlebury colleges and apart from the fact that she often beats the S&P 500, she also “has also done something more satisfying: vanquish Harvard and Yale,” Bloomberg reports.
She was bearish in 2007 when everyone else was bullish and “had the guts to bet against US stocks early” that year.
Handy, who herself is a Connecticut College grad, runs a firm called Investure that handles money management for educational institutions that outsource their endowments.
So last fiscal year, Smith College returned 16.3% on its $1.2 billion fund. Meanwhile, Harvard earned 11% on its $27.6 billion fund, and Yale earned 8.9% on its $16.7 billion.
Handy founded Investure in 2003, before which she managed the Endowment of the University of Virginia for 29 years. She began her career as a Bond Portfolio Manager and Assistant VP at the travellers Insurance Company.
Investure has about $8 billion AUM.
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