IN THE RED: Harvard Endowment Lost $2 Billion In 2016
The value of Harvard University’s endowment fell almost $2 billion in fiscal year 2016, the Harvard Crimson reports.
Robert A. Ettl, the interim CEO of the Harvard Management Company, which oversees the endowment, repeatedly described the loss at “disappointing” in his annual report. The company came up well short of internal estimates projecting a positive return of 1 percent for the year. – READ MORE