A working group in the University-wide Committee on Governance will publish a discussion paper in late April covering "broad issues" in Harvard's investment policy.

Allhough the group will withhold its final recommendations until next Fall, the preliminary report will "lay out the issues, the arguments, and the alternatives" in investment policy, according to Graham T. Allison Jr... assistant professor of Government and chairman of the group.

Reported Areas

Among the areas the report will consider are:

"social goals" in the University's investment policy; whether Harvard should direct its endowment portfolio toward or away from certain types of investments;

returns on Harvard investments over the years;

policies on use of realized capital gains as a component of income;

whether Harvard should concern itself with the policies and practices of management of corporations whose stocks or bonds it owns.

The group has been meeting for several weeks already and expects to consult several persons before coming up with a final draft.

In addition to Allison, the group includes Francis M. Bator. professor of Political Economy in the Kennedy School of Government, and Maurice Lazarus '37, the alumni representative to the governance committee.