Markets Magazine
Handy Enables Smith to Crush Harvard’s Annual Endowment Returns
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Prescient bets against the stock market have helped endowment manager Alice Handy regularly beat the Standard & Poor’s 500 Index. Handy, who manages money for Smith, Barnard and Middlebury colleges at a firm she founded called Investure LLC, has also done something more satisfying: vanquish Harvard and Yale.
Smith College, Handy’s first client and a proxy for 10 others, earned 16.3 percent on its $1.2 billion in the year ended on June 30, 2010, the most recent fiscal year for which data are available. That compared with 11 percent for Harvard University on its $27.6 billion and 8.9 percent for Yale University, which had $16.7 billion. Investure manages $8 billion.