CAMBRIDGE, Mass. (AP) — Harvard University’s largest-in-the-nation endowment shrunk by nearly $2 billion during the latest fiscal year to $35.7 billion.
Harvard Management Co., which oversees the endowment, reported Thursday that it posted a 2 percent annual investment loss for the year ending June 30.
It was the endowment’s worst performance since 2009 when it lost about $11 billion of value. It was valued at $37.6 billion at the end of the 2015 fiscal year.
Paul Finnegan, chair of HMC’s board, called the results “disappointing” in a statement.
HMC’s leadership has been in transition. After Jane Mendillo stepped down as chief executive, Stephen Blyth took over, but resigned after 17 months.
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