This is the fund’s first negative return since 2016, according to the University’s Annual Financial Report, published on Thursday. The endowment — comprised of more than 14,000 individual funds invested as a single entity — is managed by a university-owned investment firm called the Harvard Management Company, or HMC. During Harvard’s most recent fiscal year, which ended on June 30, HMC lost 1.8% on its investments, bringing the endowment’s total value down to $50.9 billion.
“HMC did not participate in these returns given the University’s commitment to tackling the impacts of climate change.” Energy stocks rose significantly earlier this year as Russia’s war in Ukraine pushed global oil prices to multi-year highs. Even with oil prices falling since then, the S&P 500 energy sector is still up more than 50% this year. The loss follows a banner year for fund, the largest academic endowment in the world. Its value increased by more than $10 billion to $53.
they should use it to pay off the Harvard grads student loans
BravoKiloActual That’s only 1.8%. Consider that…
😂😂😂😂
ACT scores hit rock bottom. Making the test's easier would, my opinion, increase enrollment for the school.🫤
Are they now willing to LIE, reverse course on their climate commitment for the Bucks?
👍
Who is running your feed ? I ask because you are actually reporting news now. So keep it up.
Boo fucking hoo. ESG scam catching up.
And that $2.3 billion won’t make a bit of difference. Think of how many local colleges could be transformed with just a donation of $2.3 million.
Biden/Dem policies have hurt everyone.
That's 4 percent. Not a big loss.
Good. Harvard is trash.
Cry us a freaking river