Harvard’s endowment is now worth $37.6 billion
The largest endowment in the academic world belongs to Harvard, and recent numbers show that it’s worth $37.6 billion.
In a letter to alumni, the Harvard Management Company, which oversees the endowment, reported that the school’s endowment had a 5.8 percent return in the fiscal year that ended on June 30, 2015.
Still, many of Harvard’s rival universities outpaced it in returns. Yale and Princeton have yet to report their investment gains, but MIT saw a return of 13.2 percent and Stanford of 7 percent.
Stephen Blyth, CEO of the endowment firm, detailed a new investment approach in the letter to alumni. The new plan would tie the salaries of the firm’s managers to the performance of the endowment as a whole, which would require managers to work more closely with one another, according to The New York Times.
The endowment announcement comes in the midst of Harvard’s capital campaign, which is now in its second year. So far, the university has raised $6 billion in gifts and pledges. The goal is $6.5 billion.
30 photos of old Harvard
[bdc-gallery id=”112806″]
To comment, please create a screen name in your profile
To comment, please verify your email address
Conversation
This discussion has ended. Please join elsewhere on Boston.com