Harvard Endowment Revamps Investment Approach
Investment management CEO says ‘disappointing’ returns symptomatic of ‘deep structural problems.’
Investment management CEO says ‘disappointing’ returns symptomatic of ‘deep structural problems.’
Long-term portfolio assets rise to $10.9 billion from $9.7 billion.
Asset value climbs $1.4 billion to $11.8 billion.
Strong returns help boost the university’s endowment over $1 billion.
Investments' value rises by $1.6 billion to $23.8 billion.
Endowment value climbs to record $7.9 billion.
Asset value rises nearly $2 billion to $27.2 billion.
Endowment gains 10.7%, grows to $24.8 billion.
Adjustments made to lower risk, and in anticipation of lower returns.
Strong global stock markets boost $3.2 billion portfolio.
University fund reaches all-time high of $6.8 billion.
Investment gains reverse fortunes of last year’s 4.3% loss, as fund hits $2.4 billion.
Investment and endowment income, net of fees, jumps to $285.2 million from $22.2 million.
CEO/CIO Harris to renegotiate fees with endowment’s managers.
CEO says portfolio has ‘deep structural problems.’