Harvard University, the world's richest school, said its investments rose 21 percent in the past year, outperforming benchmarks and extending the rebound from record losses in 2008.
The value of the university's endowment climbed $4.4 billion to $32 billion as of June 30, according to a report today by Harvard Management Co., which oversees the fund. The increase in value also reflects gifts from donors and distributions to help finance operations at the Cambridge, Massachusetts, university.
Jane Mendillo, who took over as chief executive officer of Harvard Management in July 2008, plans to shift more money in- house as she continues to cut the endowment's use of outside asset managers. She has overseen the fund's rebound from a 27 percent loss in the wake of Lehman Brothers Holdings Inc.'s collapse in September 2008...
Read more at http://www.sfgate.com/cgi-bin/article.cgi?f=/g/a/2011/09/22/bloomberg_articlesLRY3TJ0UQVI9.DTL
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