Harvard and Yale not on top this time around

The two Ivy League universities were not spared of the effects of the crisis after their endowments saw huge losses in the last year.

Harvard’s endowment tumbled 27.3 percent in its latest fiscal year, largely because of problems with its private equity and hedge fund portfolios, lopping off $10 billion and shrinking its portfolio to $26 billion. Taking into consideration donations and spending, the endowment shrank by nearly 30 percent.

Yale also suffered about a 30 percent loss in its endowment, to about $16 billion, the university’s president disclosed in a letter Thursday, adding that final figures on performance were still being compiled.

UPenn was down only 15.7%.

Why they’re making this much of a buzz: they are two of the most prestigious universities and… it proves the people behind these endowments are really humans, just like the others. I wonder how NYU’s endowments did.  (Roubini should at least have had a say on things, right?)

Source: NYT

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s