Boston Globe – Massachusetts again has some of the best money managers in the world. But unless you’re a public employee or the parent of a Harvard student, you won’t benefit much from this tremendous talent.

Harvard University’s endowment, already the nation’s largest university endowment, earned 7 to 8 percent over the past year, a period when stock markets tanked and many investment professionals lost substantial sums. Harvard’s performance, first reported yesterday by The Wall Street Journal and confirmed by a financial industry source briefed on the school’s returns, puts it at the top of an elite group of institutional investors.

Financial firm Northern Trust col lects returns on 87 endowments and foundations but not Harvard. Nevertheless, the Cambridge university’s performance would put it "at the top of the class," said Northern Trust spokesman John O’Connell.

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West Palm Beach (HedgeCo.net)- New York based fund manager Auda Hedge LLC has selected hedge fund manager Northern Trust to provide fund administration, custody, banking and foreign exchange services to its fund of hedge fund program, with assets in excess of US$1 billion.

In January 2008, Northern Trust announced a worldwide exclusive partnership with youDevise to provide enhanced fund of hedge fund data to the fund of hedge fund community via the Hedge Information Provider ("HIP") system.

"Funds-of-hedge-funds have become the route chosen by many institutional investors when accessing hedge funds." Wilson Leech, head of Northern Trust’s Global Fund services group said, "By fully integrating HIP onto Northern Trust’s global platform we will be able to deliver an enhanced reporting capability and reduce operational risk, enabling our clients to make decisions faster and more effectively."

The HIP is an online portfolio management system developed specifically for funds-of-hedge-funds. It considerably improves the timeliness of information that funds-of-hedge-fund managers receive from underlying hedge funds regarding hedge fund holdings, current value, performance, liquidity and hedging, as well as a detailed breakdown of assets and transactions. HIP makes it possible for funds-of-hedge-fund managers to see portfolio management data daily that, historically, was only available monthly.

Where Northern Trust’s UK entities undertake regulated business, they are authorized and regulated in the United Kingdom by the Financial Services Authority.

Editing by; Alex Akesson

alex@hedgeco.net

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