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Mark W. Yusko is an American investor and hedge fund manager. He is the founder, chief investment officer and managing director of Morgan Creek Capital Management, an investment management firm that advises pension funds, endowments and wealthy individuals.
Engraving of Harvard College by Paul Revere, 1767. Harvard University's endowment was valued at $53.2 billion as of 2021. [1]A financial endowment is a legal structure for managing, and in many cases indefinitely perpetuating, a pool of financial, real estate, or other investments for a specific purpose according to the will of its founders and donors. [2]
A key provision of UPMIFA states that: "Subject to the intent of a donor expressed in the gift instrument an institution may appropriate for expenditure or accumulate so much of an endowment fund as the institution determines is prudent for the uses, benefits, purposes, and duration for which the endowment fund is established. [7]
Trust funds are earmarked for specific programs and purposes in accordance with a statute that designates the fund as a trust. Its statutory designation distinguishes the fund as a trust rather than a special fund. The Highway Trust Fund is an example of trust funds. [51]
Businesses that make investments, either directly or via a captive fund; Endowment funds used by universities, churches, etc. Mutual funds, hedge funds, and other funds, ownership of which may or may not be publicly traded (these funds typically pool money raised from their owner-subscribers to invest in securities) Sovereign wealth funds
Endowment tax is the taxation of financial endowments that are otherwise not taxed due to their charitable, educational, or religious mission. Endowments can be up to several billion dollars at some universities , some charitable foundations , and some medical foundations.
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In 1985, when Swensen started managing the endowment, it was worth $1 billion; in 2019 it was worth $29.4 billion. As of 2005, the fund had managed annualized returns of 16.1%. He has been called "Yale's 8 billion dollar man" for his attainment of nearly $8 billion for the college endowment from 1985 to 2005. [11]