Harvard University's endowment posted its first year of negative returns since 2016, reporting a 1.8% loss for fiscal year 2022. It had a value of $50.9 billion in June.
Harvard Management Company vowed in 2020 to make the endowment net-zero in terms of greenhouse gas emissions by 2050.Narvekar also noted in the letter that managers of private funds may have "not yet marked their portfolios to reflect general market conditions," making Harvard Management Company "cautious about forward-looking returns in private portfolios.
In this July 16, 2019, file photo, people walk past an entrance to Widener Library on the campus of Harvard University in Cambridge, Mass. In 2022, over $2.1 billion was provided by the endowment for Harvard’s annual operating budget, according to Harvard Management Company. The university’s endowment was worth $53.2 billion at the end of fiscal year 2021, when it delivered 33.6% returns.
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