Harvard Management Co

Ten Stories That Shaped 2020

The past twelve months were a year like no other for Harvard and the world. Under the backdrop of a once-in-a-century pandemic, students took classes from all over the globe, while pushing for social change at the University and on the political stage. Here, The Crimson reviews ten stories that defined 2020 at Harvard.

Divestment Movement Wins Some, Loses Some

Harvard’s long-lived divestment movement this year gained powerful allies among the faculty and placed supporters in the upper echelons of University leadership, but its ultimate goal pushing the University to completely divest from fossil fuel companies remains unfulfilled.

After a Rocky Year, Harvard Faces an Uncertain Economic Climate in 2021, Hollister Says

After a turbulent year for the University and its finances, Harvard is set to grapple with an uncertain economic outlook in 2021, University Vice President for Finances Thomas J. Hollister said in an interview with The Crimson Thursday.

Harvard Management Company Renews Facebook Investments, Buys Gambling and Tech Stocks As Securities Value Spikes in Third Quarter

The overall value of the Harvard Management Company's public securities holdings increased by nearly 55 percent during the third quarter.

Experts Say Endowment Returns Are Strong, But Long-Term Success Contingent on Investment Planning

While Harvard’s endowment returns for the 2020 fiscal year were promising, experts warn that the endowment could face challenges down the line.

Harvard Endowment Returns 7.3 Percent for Fiscal Year 2020

Harvard Management Company returned 7.3 percent on its investments for FY 2020, bringing the value of Harvard's endowment to the largest sum in its history.

Former Japanese Government Official Pressured HMC Head In Vote On Toshiba Chief Executive’s Reappointment, per Report

The former investment chief of Japan’s state pension fund pressured Harvard Management Company Chief Executive N.P. “Narv” Narvekar in a vote over the reappointment of an embattled electronics conglomerate chief executive, the Financial Times reported Tuesday.

In Reversal, Harvard Will Maintain Normal Endowment Payout for Fiscal Year 2021

The Harvard Corporation — the University’s highest governing body — moved to maintain a typical endowment payout of around 5 percent for Fiscal Year 2021, Dean of the Faculty of Arts and Sciences Claudine Gay wrote in an email last week.

Harvard Management Company Invests in New Biopharmaceutical Companies, Including COVID-19 Vaccine Hopeful

The Harvard Management Company added three biopharmaceutical companies — including a firm developing a coronavirus vaccine candidate — to its investment portfolio in the second quarter as the overall value of their public securities holdings dropped 28 percent.

New Data Reveals Diversity Stats of Harvard's External Asset Managers

Roughly 27 percent of the external asset management firms that oversee parts of Harvard’s $40.9 billion endowment are majority-owned by women and people of color.

In Letter to Bacow, Reps. Cleaver, Kennedy Asks HMC To Disclose Diversity of External Asset Managers

U.S. Representatives Emanuel Cleaver II (D-Mo.) and Joseph P. Kennedy III (D-Mass.) penned a letter to University President Lawrence S. Bacow requesting that Harvard disclose what percentage of its $40.9 billion endowment is managed by firms owned by people of color and women.

Bacow Made $570,072 during First Six Months of Presidency, Per Financial Disclosures

University President Lawrence S. Bacow made $570,072 in 2018, the first six months of his term, while former University President Drew G. Faust made $3.6 million in her final six months in office.

HMC Building

The Harvard Management Company, housed in the Boston Federal Reserve building, manages Harvard's endowment and related financial holdings.

Harvard Management Company Public Securities Holdings Plummet in First Quarter

In the first quarter of 2020, as the novel coronavirus pandemic began to roil the global economy, the overall value of public securities held by Harvard Management Company plummeted 32 percent, from $945 million to $639 million.

Experts Say Harvard May Encounter ‘Pitfalls’ On its Way To A Greenhouse Gas-Neutral Endowment

Harvard pledged last month to achieve net-zero greenhouse gas emissions in its endowment by 2050. But experts say a number of intermediate steps may pose logistical and environmental challenges for the University.

Harvard to Issue $1.1 Billion in Bonds, Capitalizing on Low Interest Rate

Harvard will sell up to $573 million in revenue bonds through a state agency and use the proceeds to refinance outstanding debt, and sell $500 million in taxable bonds for “corporate purposes,” according to a report from Moody’s Investors Service this week.

In Letter to Bacow, Rev. Al Sharpton Calls on Harvard to Disclose Diversity Among Endowment Managers

Civil rights activist Reverend Al Sharpton called on Harvard to disclose whether it employs African American asset managers in a letter to University President Lawrence S. Bacow last month.

Harvard Indirectly Holds Nearly $100,000 Worth of Stocks in Tobacco Companies

The Harvard Management Company indirectly holds an estimated $98,265.08 worth of shares through exchange-traded funds which include tobacco companies, an industry Harvard divested from in 1990, according to The Crimson’s analysis of HMC’s public filings to the Federal Securities and Exchange Commission.

Harvard Management Company Bought Uber, Biopharmaceutical Stocks During Last Quarter of 2019

HMC bought stock in Uber, decreased its shares in Facebook, and slightly lowered its overall securities value in the last quarter of 2019.

Georgetown’s Decision to Divest from Fossil Fuels Has Uncertain Implications for Harvard, Experts Say

Though Georgetown University’s administration pledged on Feb. 6 to divest from the fossil fuel industry, legal and environmental experts say the decision provides little insight into the decision-making of Harvard’s top administrators, who have remained opposed to divestment.

Committee on Shareholder Responsibility Voted on Facebook Practices

Harvard’s Committee on Shareholder Responsibility, which is tasked with handling issues of corporate social responsibility, voted on four resolutions presented to Facebook shareholders during the last fiscal year, according to a Friday report.

Harvard Management Company

The Harvard Management Company manages Harvard's endowment and related financial holdings.

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