$8 Billion Evaporates from Harvard’s Endowment
Posted on December 10th, 2008 No Comments »
With the worsening recession and the crash of the U.S. stock market, the value of Harvard University's huge endowment has shrunk by about $8 billion, according tot he
That a lose in the last four months of about 22%. The Harvard endowment had almost $37 billion in it on June 30,
make it the biggest endowment in the nation.
According to the WSJ, Harvard has said that the actual loss could be even higher, once it factors in declines in hard-to-value assets such as real estate and private equity – investments that have become increasingly popular among colleges. The university is planning for a 30% decline for the fiscal year ending in June 2009.
Of course, Harvard is not alone in this dilemma. Most university endowments have taken a hit on the stock market in the last few months.
Photo courtesy of iStockphoto, Jorge Salcedo
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