From The Boston Globe: Harvard University’s endowment climbed 11 percent for the year ended June 30, adding $1.4 billion to the school’s wealth but underperforming other large funds and the stock market. The nation’s largest endowment, with $27.4 billion in assets, benefited from rebounding markets, as stocks rallied and nearly every investment category posted gains through the first few months of this year. In fiscal 2009, the fund’s value decreased a stunning 27.3 percent amid the financial crisis.
OCTOBER 2009...From The Boston Globe: Harvard University says it lost $1.8 billion - money it relies on for the school’s everyday expenses - by investing it with its endowment fund, instead of keeping it in safe, bank-like accounts. Typically, companies and big institutions manage their operating funds conservatively in order to have it readily available, by keeping the money in such low-risk investments as money-market mutual funds.