Harvard's endowment grew by more than 30 percent in the past year to a staggering $19 billion, according to the University's annual financial report, which may be released as early as today.
"It's in the $19 billion vicinity," said Elizabeth C. "Beppie" Huidekoper, Harvard's vice president for finance. "It was a great year."
The figures are for the fiscal year ending June 30. In fall 1999, the endowment was worth $14.4 billion.
Harvard outperformed benchmarks it set for itself in almost all of its investment categories, according to Jay O. Light, director of the Harvard Management Company (HMC), which handles Harvard's investments.
"HMC outperformed the benchmarks in almost every category by sizable amounts," he said. "It's pretty much across the board."
The endowment, the largest of any university, also beat stock market indicators like the S&P 500 average, which rose only seven percent in the same period.
The 30-percent increase more than doubled last year's 12.2-percent return rate, which many described as lackluster.
It is also a substantial increase over the average of 20.1 percent for the five-year period ending in fall 1999.
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