Harvard Gains 6.5% in Muted Year for University Endowments
Harvard University’s endowment
posted a 6.5% return in fiscal 2019, reflecting a tough year for many U.S. colleges.
Harvard’s return
beat the average for large school endowments but, like many universities, trailed the U.S. stock market.
The muted showing of the typical endowment
is the lowest yearly return since 2016 and bodes new challenges for universities at a time of ultralow interest rates.
Universities
rely on their endowments to fund everything from student financial aid and faculty salaries to the construction of libraries and sports facilities.
WSJ