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Article: Harvard endowment has 7-year best, hits $34.9b
- Article from:
- The Boston Globe (Boston, MA)
- Article date:
- August 22, 2007
- Author:
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Copyright informationCopyright 2007 The Boston Globe. (Hide copyright information)
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Harvard University's endowment grew to $34.9 billion thanks to
investment returns of 23 percent in the fiscal year ended June 30,
its best performance in seven years, the university said yesterday.
The world's largest university endowment increased from $29.2
billion the previous year and distributed $1.1 billion to Harvard to
spend on teaching, research, and student aid. It was the first time
the endowment distributed more than $1 billion in a year to the
university.
The growth of Harvard's endowment in a single year, $5.7 billion,
dwarfs similar gains in the academic world. Other than Harvard, only
six American universities held entire endowments larger than $5.7
billion at the end of the ...
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