Harvard Gains 10% as Endowment Has ‘Much Work Ahead,’ CEO Says
- Largest higher education fund trails some peers in fiscal 2018
- Assets reach record $39.2 billion in year through June 30
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Harvard University posted a 10 percent investment gain as the world’s largest college endowment is “still in the early stages of a multi-year transition, with much work ahead,” the fund’s chief executive officer said Friday in a statement.
The return trailed other wealthy schools including the Massachusetts Institute of Technology and Ivy League peer Dartmouth College. While the value of Harvard’s fund reached a record $39.2 billion through June 30, the university has been losing ground to rivals as it has struggled over the past decade with poor performance.