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Harvard's Endowment Rise

Harvard University's $36B Endowment Rises 15.4% in 2014

As in-house bond managers and outside hedge funds teamed up to easily beat the portfolio's 14.6 percent benchmark return, Harvard University announced that its $36 billion endowment posted an increase of 15.4 percent throughout fiscal 2014.
The endowment, overseen by Harvard Management Company Inc, grew to $36.4 billion in the fiscal year ended June 30 from $32.7 billion. That marked a near-full recovery from losses posted during the financial crisis.
Still, an overhang from underperforming illiquid private-equity investments continue to weigh on the endowment's portfolio, HMC said in a press release.
The Ivy League school's endowment is the largest in the world and is now valued roughly three times bigger than the annual gross domestic output of Africa's Zimbabwe.
The endowment's bond portfolio produced a 7.7 percent return in fiscal 2014, trouncing the 4.2 percent return on its benchmark. Its foreign bonds were the stars, posting an 18 percent return against an 8 percent return on the benchmark, HMC said. The entire fixed income portfolio is managed internally.
Source: Business Insider

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