The performance of Harvard’s endowment in fiscal year 2015 is troubling, Harvard president Drew Gilpin Faust told the Harvard Crimson on Tuesday.
Although the fund remains the largest in the world and increased by 5.8 percent to reach $37.6 billion, Harvard's percentage gain was lower than all other Ivies who reported results except for Brown.
Cornell and Columbia have not yet released figures.
“We obviously did not do as well as MIT and Yale and others, and that of course is a concern, and it's very much a concern for Stephen Blyth, who has been making significant changes,” Faust said.
Blyth has been president of the Harvard Management Company since January, according to the International Business Times.
Harvard's endowment returns were the worst among the Ivy League from fiscal years 2009 to 2013, under then-Harvard Management Company CEO Jane L. Mendillo, according to financial firm manager Charles Skorina. The lackluster performanceresulted in part from management changes and the 2008 financial crisis, the International Business Times reported.
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