Harvard Management Co
Following Harvard Management Company’s announcement that it returned 6.5 percent on its investments for fiscal year 2019, University President Lawrence S. Bacow said he continues to support HMC CEO N.P. “Narv” Narvekar and the University’s five-year plan to restructure its endowment management.
University of California Divestment Decision Offers Insights Into Feasibility of Divestment at Harvard
As the UC system — which holds a mix of public and private assets — disentangles itself from the fossil fuel industry, some experts say it may offer a glimpse of what it would look like for Harvard to follow a similar path.
Harvard and more than 30 other colleges and universities jointly submitted their formal opposition to the United States Treasury’s proposed rules for implementing a tax on some universities’ endowments that was originally passed into law in December 2017.
The returns were announced in a note from HMC CEO N.P. “Narv” Narvekar to University affiliates Friday morning, and represent the lowest return rate in two years — 2018 saw a 10.1 percent return, while 2017 yielded 8.1 percent. Despite the low rate, the endowment exceeded $40 billion for the first time in its history.
HMC has signed onto the Climate Action 100+, a group of investors committed to pushing greenhouse gas emitters to take action on climate change initiatives.
Harvard Management Company Chief Compliance Officer Kathryn I. Murtagh spoke about Harvard's investment policies Monday at a panel that also featured students and faculty calling for the University to divest from companies with ties to the prison and fossil fuel industry.
Harvard College is exploring ways to limit spending in preparation for a future fiscal downturn more than ten years after the 2008 financial crisis hit the University, College Dean for Administration Sheila C. Thimba said in an April 30 interview.
The great nephew of former University President Abbott Lawrence Lowell, Putnam created the Harvard Management Company — the firm that oversees the University’s multi-billion dollar endowment — and served as its first leader, which greatly influenced how universities manage their endowments.
New Harvard Management Company Website Removes Divestment Information, Defends Natural Resources Holdings
Harvard Management Company updated its website within the last month to remove any mention of past instances of divestment and to include references to its protocols on its investment in land and agriculture.
Among some of the corporations that have expanded into the region in recent years is an unlikely investor — the Harvard Management Company. HMC, the University’s investment arm, oversees Harvard’s nearly $40 billion endowment.
More than 100 Harvard affiliates gathered outside of Massachusetts Hall Friday to deliver a petition to University President Lawrence S. Bacow urging Harvard to disclose and divest its holdings in companies tied to the prison industry.
Harvard Management Company, the University’s investment arm, invests more heavily in technology companies than the other four largest university endowments in the country, according to the most recent U.S. Securities and Exchange Commission filings.