Massachusetts Institute of Technology reported weak investment returns, as its holdings in venture capital suffered apparent losses.
They have followed the so-called Yale model championed by the late David Swensen, the former Yale endowment chief who died in 2021. Yale has had less than 5% of its endowment in listed domestic equities. The Wilshire Trust Universe Comparison Service, which broadly tracks institutional portfolios, showed an 8.1% return in the year ended in June.
Endowment portfolios look nothing like those of individual investors and the 60/40 or 70/30 mix of stocks and bonds favored by many financial advisors.
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