New Harvard investment chief; Yale sees high returns
As Harvard named a new management chief in its bid to improve the returns on its huge portfolio, Yale University reported Wednesday that its fund had earned a 20.2 percent return for the fiscal year, a big payoff for a strategy that was criticized in the wake of the financial crisis. The developments intensified the spotlight on the investment practices of the Ivy League colleges and the high stakes for their endowments.
Financial Crisis Took a Huge Bite Out of Harvard, Yale Endowments, Reports Say
Harvard and Yale disclosed Thursday just how many billions of dollars their endowments had lost in the last year, signaling yet more belt tightening at the nation’s wealthiest schools.
Colleges Feel Impact of Market Decline, Begin Cutting Fin. Aid
For years, as the stock market roared, educational endowments swelled, helping private secondary schools and colleges provide more financial aid, expand, and attract better faculty. But with the financial markets in crisis, those days are over.
Colleges Scramble to Sell Assets as Markets Slide
Some of the nation’s universities are trying to sell chunks of their portfolios privately as their endowments swoon with the markets.
For Lehman Employees, The Collapse is Personal
In the last few days, employees of Lehman Brothers have wrung their hands as the value of their stock evaporated before their eyes. Now, many fear losing their jobs, too.
Yale Endowment Grows 28 Percent, Tops $22 Billion
The Yale Endowment, which has led the academic world in investment performance over the last decade, posted a 28 percent return Wednesday for the fiscal year ended June 30, bringing its total value to $22.5 billion.
Harvard Endowment Reports 23 Percent Gain For FY
The Harvard Management Company, which oversees the endowment of Harvard University, reported Aug. 21 that the endowment had posted a 23 percent gain for the fiscal year ended June 30.