The endowment registered a year of solid absolute and relative performance. Total investment return for the 2008 fiscal year (July 2007 – June 2008) amounted to 8.6%, net of all expenses and fees.
After taking into account annual distributions to the University and the receipt of new gifts, the value of the endowment grew from $34.9 billion as of end-June 2007 to $36.9 billion as of end-June 2008 (Exhibit). As a consequence, University recipients will experience in fiscal year 2009 another increase in endowment distributions to support teaching, research and student aid.
John Harvard Letter
In this seventeenth annual letter from the Harvard Management Company (HMC) to the friends of Harvard, we would like to update you on the endowment results for the fiscal year that just ended and some of the challenges we face looking forward.
