After a Harvard Management Company official said that the natural resources portfolio is "pausing" investments in fossil fuels, the University maintained that the remarks did not represent a change in investment strategy.
Faust said the renown of American universities is “contingent” on continued federal support during a panel discussion with university presidents in the nation’s capital.
As Harvard cuts the size of its internal workforce and begins to outsource its funds to more expensive external managers, Harvard Management Company will begin to more closely resemble investment offices at Yale and other peer institutions.
Harvard Management Company’s head of natural resources Colin Butterfield said that Harvard is “pausing” investments in some fossil fuels.
As Harvard seeks to cope with disappointing endowment returns from last fiscal year, some of the University's twelve constituent schools will be harder hit than others.
The cost of attending Harvard College will be $65,609 in the 2017-2018 academic year, representing a 4.10 percent increase from last year.
Months after announcing it would radically revise its investment strategy by the end of the fiscal year, Harvard Management Company will invest at least $300 million into a hedge fund formed by some of its former money managers.
David Rockefeller '36 donated at least $140 million to the University, making him one of Harvard's most generous financial supporters.
Divest Harvard is planning to occupy Massachusetts Hall next week in protest of Harvard’s decision not to divest from the coal industry.
A University spokesperson harshly condemned President Donald Trump’s proposed 2018 budget as “devastating” and “unprecedented” Monday.