The Yale Model
| David Swenson | |
|---|---|
| Born | 1954 (age 62–63) River Falls, Wisconsin, U.S. |
| Residence | New Haven, Connecticut, U.S. |
| Citizenship | United States |
| Alma mater |
University of Wisconsin-River Falls Yale University |
| Thesis | A Model for the Valuation of Corporate Bonds |
| Known for |
The Yale Model Swensen approach Managing the Yale Endowment |
| Influences |
James Tobin William Brainard |
| Influenced |
Endowments influenced |
David F. Swensen (born 1954) is an American investor, endowment fund manager, and philanthropist. He has has been the chief investment officer at Yale University since 1985.
Swensen is responsible for managing and investing Yale's endowment assets and investment funds, which total $25.4 billion as of September 2016. He invented The Yale Model with Dean Takahashi, an application of the modern portfolio theory commonly known in the investing world as the "Endowment Model." His investing philosophy has been dubbed the "Swensen Approach" and is unique in that it stresses allocation of capital in Treasury inflation protection securities, government bonds, real estate funds, emerging market stocks, domestic stocks, and developing world international equities.
His investment success with the Yale Endowment has attracted the notice of Wall Street portfolio managers and other universities. Investment heads from universities such as Harvard, MIT, Princeton, Wesleyan, and the University of Pennsylvania have adopted his allocation strategies to mixed success. Under Swensen's guidance the Yale Endowment has seen an average annual return of 11.8 percent from 1999 to 2009. As of the 2016 fiscal year, Yale's endowment has risen by 3.4%, the most out of any Ivy League school, according to Institutional Investor.
Swensen was listed third on aiCIO's 2012, a list of the 100 most influential institutional investors worldwide. In 2008, he was inducted into Institutional Investors Alpha's Hedge Fund Manager Hall of Fame.
...
Wikipedia