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Harvard University Endowment

PRI reporting framework 2018

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Organisational Overview
Basic information [OO 01 - 09] Asset class implementation gateway indicators [OO 10 - 12] Peering questions [OO LE 01 - INF 03]
Strategy and Governance
Investment policy [SG 01 - 04] Objectives and strategies [SG 05 - 06] Governance and human resources [SG 07 - 08] Promoting responsible investment [SG 09 - 11] Outsourcing to fiduciary managers and investment consultants [SG 12] ESG issues in asset allocation [SG 13 - 15] Asset class implementation not reported in other modules [SG 16 - 17] Innovation [SG 18] Communication [SG 19]
Indirect – Manager Selection, Appointment and Monitoring
Listed Equity and Fixed Income Strategies [SAM 01] Selection [SAM 02 - 03] Appointment [SAM 04] Monitoring [SAM 05 - 07] Outputs and outcomes [SAM 08 - 09]
Direct - Listed Equity Incorporation
ESG incorporation in passively managed listed equities [LEI 11]
Direct - Listed Equity Active Ownership
Engagement [LEA 01 - 14] Overview [LEA 01 - 02] Process [LEA 03 - 10] Process for engagements conducted via collaborations [LEA 05 - 06] General processes for all three groups of engagers [LEA 09 - 10] Outputs and outcomes [LEA 11 - 14] (Proxy) voting and shareholder resolutions [LEA 15 - 24] Overview [LEA 15] Process [LEA 16 - 20] Outputs and outcomes [LEA 21 - 24]
Direct - Property
Overview [PR 01] Pre-investment (selection) [PR 04 - 06] Selection, appointment and monitoring third-party property managers [PR 07] Post-investment (monitoring and active ownership) [PR 08 - 14] Overview [PR 08] Property monitoring and management [PR 09 - 10] Property developments and major renovations [PR 11] Occupier engagement [PR 12 - 13] Community engagement [PR 14] Outputs and outcomes [PR 15 - 16]
Assurance
Assurance [CM1 01.1 - 01.7]
Export Public Responses
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Basic information

OO 01. Signatory category and services

01.1. Select the type that best describes your organisation or the services you provide.

01.3. Additional information. [Optional]

HMC provides investment management services to Harvard University, investing the University's endowment and related financial assets.  HMC's mission is to help ensure that Harvard University has the financial resources to confidently maintain and expand its preeminence in teaching, learning, and research for future generations. Returns from the endowment support academic programs, provide financial aid, and fund scientific and medical research.  Since its inception in 1974, HMC has made cumulative distributions to Harvard University totaling $26.3 billion.  

 

OO 02. Headquarters and operational countries

02.1. Select the location of your organisation’s headquarters.

United States

02.2. Indicate the number of countries in which you have offices (including your headquarters).

02.3. Indicate the approximate number of staff in your organisation in full-time equivalents (FTE).

175 FTE

02.4. Additional information. [Optional]

As of June 30, 2017, HMC has largely exited the internal management of public markets assets as part of a plan to restructure HMC. The plan also included establishing and integrating a generalist investment model, spinning off various internal platforms, rebuilding our investment processes and analytics, and creating a new risk framework. As a result of HMC’s new investment approach, the size of HMC’s support organization has been reduced.

OO 03. Subsidiaries that are separate PRI signatories

03.1. Indicate whether you have subsidiaries within your organisation that are also PRI signatories in their own right.

03.3. Additional information. [Optional]

OO 04. Reporting year and AUM

04.1. Indicate the year end date for your reporting year.

30/06/2017

04.2. Indicate your total AUM at the end of your reporting year, Exclude subsidiaries you have chosen not to report on and any advisory/execution only assets.

Total AUM
trillions billions millions thousands hundreds
Currency
Assets in USD
trillions billions millions thousands hundreds

04.5. Additional information. [Optional]

OO 06. How would you like to disclose your asset class mix

New selection options have been added to this indicator. Please review your prefilled responses carefully.

06.1. Select how you would like to disclose your asset class mix.

Internally managed (%)
Externally managed (%)

 

Listed equity 10-50% 10.4 10-50% 20.2
Fixed income <10% 8 0 0
Private equity 0 0 10-50% 18.2
Property <10% 8.9 <10% 4.2
Infrastructure 0 0 0 0
Commodities 0 0 0 0
Hedge funds 0 0 10-50% 20
Forestry <10% 3.2 0 0
Farmland <10% 3 0 0
Inclusive finance 0 0 0 0
Cash <10% 3.9 0 0
Other (1), specify 0 0 0 0
Other (2), specify 0 0 0 0

06.2. Publish asset class mix as per attached image [Optional].

06.3. Provide contextual information on your AUM asset class split. [Optional]

As of June 30, 2017, HMC has largely exited the internal management of public markets assets as part of a plan to restructure HMC. The plan also included establishing and integrating a generalist investment model, spinning off various internal platforms, rebuilding our investment processes and analytics, and creating a new risk framework.

OO 07. Fixed income AUM breakdown (Private)

OO 08. Segregated mandates or pooled funds (Private)

OO 09. Breakdown of AUM by market (Private)

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