Harvard, Yale, Stanford make big bets on exchange traded funds
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New York
THE most active bets among the largest US college endowments in the first quarter were exchange traded funds (ETFs), underscoring a move toward cheap and passive investment strategies.
Four of the five largest public purchases were ETFs, accounting for over US$1.2 billion traded, according to data compiled by Bloomberg. The biggest bet was on iShares iBoxx High Yield Corporate Bond ETF, with Harvard University's endowment leading the way. The Ivy League school added to its position, making it the fund's biggest publicly-traded holding.
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