Harvard Endowment Sees Return of 11%

Harvard University's endowment, the world's largest, is going up again, having earned an 11 percent return in the fiscal year ending on June 30. That brings its value to $27.4 billion, and the university's announcement hailed a "strong positive return." Others were less impressed. The Wall Street Journal said that the endowment deserved a "middling grade," noting that the endowment did not match similar large funds. Harvard still has a ways to go to restore its endowment value before the fall 2008 economic crisis hit: $36.9 billion.