- The Harvard University endowment lost $2.3 billion in the past fiscal year, and part of that obviously had to do with the fact that the stock market had one of its worst years in recent memory.
- The negative 1.8 percent return was the endowment’s first loss since 2016.
- The endowment acknowledged, however, that its investing shift away from fossil fuels to green energy had “weighed upon performance.” Meanwhile, an endowment official noted that other institutional investors had continued to invest in the conventional energy sector, “adding materially to their total return.”
- But don’t feel bad for Harvard. Its endowment finished the fiscal year at $50.9 billion.
