University Finances

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.

Freshmen Rally for Divest Harvard Movement

The rally was organized by freshmen who are members of the student group Fossil Fuel Divest Harvard to re-emphasize the group’s commitment to the movement, even during the pandemic.

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 Management Company Natural Resources Team — Once Blamed for Low Returns — ‘Spins Out’

Harvard Management Company’s natural resources team spun-out into an independent investment firm, according to a message CEO N.P. “Narv” Narvekar sent to HMC affiliates Thursday.

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.

Student Groups Call For Increased Transparency in Harvard’s New Gift Policies

Students penned a letter calling for mechanisms to “hold administrators accountable, vet potential donors, regularly re-vet current donors, and take meaningful action based on voices from the community,” like an anonymous complaint system.

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.

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.

Three U.S. Representatives Request Foreign Funding Data in Letter to Bacow

U.S. Representatives James Comer (R-Ky.), Jim Jordan (R-Ohio), and Virginia Foxx (R-N.C.) requested Monday that Harvard disclose all records of gifts from the governments and citizens of China, Qatar, Saudi Arabia, Iran, and Russia since 2015.

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.

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