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Case
| HBS Case Collection
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2007
(Revised from original 2000 version)
Harvard Management Company and Inflation-Protected Bonds, The
by
Luis M. Viceira
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Abstract
In March 2000, the board of The Harvard Management Co. (HMC) approved significant changes in the policy portfolio determining the long-run allocation policy of the Harvard University endowment. These changes included a sharp reduction of the allocation to U.S. equities and U.S. nominal bonds and a significant investment in the new U.S. Treasury Inflation-Protected Securities (TIPS). This case focuses on the analysis that led HMC management to recommend such changes to the board.
Keywords: Bonds;
Investment Portfolio;
Investment Funds;
Asset Management;
Corporate Governance;
Capital Markets;
Financial Services Industry;
United States;