Harvard Endowment Records Big Gain
August 22, 2007 | Read Time: 1 minute
Harvard University’s endowment, the world’s largest educational fund, reported one of the its best years ever for the 2007 fiscal year, reports The Chronicle of Higher Education.
The endowment grew from $29.2-billion to $34.9-billion. Its return on investment was 23 percent, significantly outpacing the 16.7-percent return it posted during the 2006 fiscal year.
Mohamed A. El-Erian, chief executive of the Harvard Management Company, which invests and manages the university’s endowment, said the fund’s strong performance was due to investments in emerging-market stocks, private equity, and real estate.
Read more about The Chronicle’s annual survey of the nation’s largest endowments.
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