Harvard University’s endowment, the largest in the world, had the worst performance of any of the eight Ivy League schools in 2013. Its chief executive officer at the time, Jane Mendillo, got the biggest raise.
That’s in keeping with the findings of a Bloomberg survey of 62 U.S. college endowments that found compensation often doesn’t square with investment performance. Only half of the managers in the top quartile for pay achieved returns for the three years ending in 2013 that were also in the top 25 percent.
