Harvard Reports Big Gains On Investments

Ann McClure's picture

Harvard University’s endowment earned 21.4 percent on its investments for the year ended June 30, roughly in line with the financial performance of other large funds, the school’s money managers reported yesterday.

The Harvard endowment, the nation’s largest, grew by about $4.6 billion to $32 billion over the school’s fiscal year.

The fund also contributed an estimated $1.5 billion to the university, covering about a third of Harvard’s operating budgets for the year.

“I think we had a very successful year,’’ said Jane Mendillo, president of Harvard Management Co., the university’s investment arm. “The markets were very good for most of the year, and we were able to beat the markets in a lot of areas. Bottom line, I’m very satisfied with the results and the progress we’ve made.’’

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