Harvard’s Endowment Grows in Tough Year
August 7, 2008
As the subprime mortgage crisis and falling stock prices caused many investors to lose money this year, Harvard University’s endowment came out ahead, gaining a 9-percent increase at the close of its fiscal year in June, reports The Wall Street Journal.
The university’s investment managers increased the endowment to $35-billion using a mix of Treasury debt, commodities, and hedge funds. The endowment’s average return over the past decade is 15 percent.
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