Harvard University’s endowment reported a 15.4% return and was valued at US$36.4 billion for the fiscal year ended June 30, 2014.
The return was 82 basis points in excess of the 14.6% return on the benchmark policy portfolio.
Over the last five years, Harvard Management Company (HMC) has delivered investment returns in excess of its benchmark, resulting in a cumulative value add above the markets of US$1.9 billion, net of all costs.
Additionally, over the last five years, HMC has distributed a total of US$11.6 billion in cash to the university.
“We are pleased to continue to deliver substantial financial support for Harvard’s academic, financial aid and research programs,” says Jane Mendillo, president and CEO of HMC. “Our organization and our portfolio are now well positioned to continue to deliver substantial returns and cash flow to the university for decades to come.”
The endowment has earned an average annual return of 11.6% over the past five years, 8.9% over the past 10 years and 12.3% over the past 20 and 40 years.
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