FYI: Harvard Management Company returned 8.1 percent on its investments in fiscal year 2017, a “disappointing” performance the firm’s freshman CEO called “a symptom of deep structural problems at HMC.”
The returns—which brought the value of the endowment to $37.1 billion—are the worst of almost 20 institutional investors who have released their figures for fiscal year 2017. The figures released Tuesday are the first under HMC’s CEO N.P. Narvekar, whom Harvard hired last year in an attempt to rehabilitate the University’s beleaguered investment arm. HMC has struggled in recent years, losing almost 2 billion in endowment value and continually pulling in behind its peer investors.
Regards,
Ted
http://www.thecrimson.com/article/2017/9/20/hmc-2017-results/
