Economics
Once ‘King of Hedge Funds,’ College of Wooster Becomes a Skeptic
- Small college endowments are toughest in cutting hedge funds
- School funds say they’ll keep cutting allocations, survey says
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Hedge funds once seemed crucial to helping the College of Wooster boost the value of its endowment. Not anymore.
“We were the king of hedge funds,” said John Sell, an economics professor who also serves as the investment director at the $263 million endowment in the Ohio town of the same name. Now school officials have “increasing skepticism of active management. Hedge funds are the classic example of super-active management,” he said.