Though the Harvard Management Company reported record-breaking returns last Thursday, several financial experts said it still lags behind the performance of key financial indices and its peer institutions.
Harvard finished the fiscal year ending in June 2021 with a budget surplus of $283 million, despite a $124 million drop in revenue, according to the University’s annual financial report released Thursday.
Harvard Management Company returned 33.6 percent on its investments for the fiscal year ending in June 2021, skyrocketing the value of the University’s endowment to $53.2 billion, the largest sum in its history.
Several financial experts predicted that the Harvard endowment will post returns of at least 20 percent for fiscal year 2021, which would bring the endowment to its largest sum in history.
Fossil Fuel Divest Harvard plans to encourage the University to invest in green economic initiatives after Harvard’s surprise announcement that it intends to divest from fossil fuels.
Roughly 80 student protestors with Divest Harvard — a student organization calling for the University to sell its investments in the fossil fuel industry — staged a “visual waterline” outside University Hall to represent the rally’s focus on rising sea levels.
University President Lawrence S. Bacow earned $1,224,889 in 2019, his first full year as Harvard’s president, according to financial documents filed by the University earlier this month.
Organizers from Fossil Fuel Divest Harvard — an activist group calling for Harvard to divest from the fossil fuel industry — met with senior staff members from the office of Massachusetts Attorney General Maura T. Healey ’92 Friday to discuss a legal complaint they filed in March over the University’s investments.
The Harvard Corporation voted last week to draw further from the endowment for fiscal year 2022 than initially planned in light of strong stock market returns.
CFO Hollister Predicts Harvard’s Second Consecutive Year of Declining Revenues for First Time Since Great Depression
Vice President for Finance and Chief Financial Officer Thomas J. Hollister forecasted in a Tuesday interview with The Crimson that Harvard will experience its second consecutive year of declining revenues for the first time since the Great Depression of the 1930s.
TPRV Capital, LP — a hedge-fund which launched with $400 million in seed capital from Harvard Management Company in 2017 — announced that it will cease operations, liquidate all assets, and return all of its capital to its investors in an update sent to the Securities and Exchange Commission on March 9.
A significant majority of respondents to The Crimson’s annual survey of Harvard’s Faculty of Arts and Sciences — 73 percent — believe the Harvard Corporation’s commitment to achieve net-zero greenhouse gas emissions from its endowment by 2050 is “too slow.”
Politicians, Over 100 Harvard Faculty Back Complaint to State AG Alleging Harvard’s Investments Violate State Law
More than 100 Harvard faculty members and nine local elected officials backed a complaint filed with the Massachusetts Attorney General’s office last week challenging the legality of the University's investment in fossil fuels.
Bacow Hopes for ‘As Close to a Traditional’ Post-Covid Commencement As Possible for Classes of ’20, ’21
University President Lawrence S. Bacow said in an interview Thursday that Harvard intends for future in-person celebrations for the Classes of 2020 and 2021 to closely mirror traditional Commencement Exercises with just “as much pomp and circumstance.”
Harvard may be eligible to receive nearly $25.5 million in aid from the latest federal stimulus package, according to an analysis published Monday by the American Council on Education, a higher education interest group.