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The Harvard Management Company, which manages Harvard University's endowment, announced that it ended the 2017 fiscal year having had a return of 8.1 percent, with the endowment's total value reaching $37.1 billion. Harvard's endowment is the largest of any college or university. A statement from N. P. Narvekar, CEO of the company, called the return "disappointing and not where it needs to be." Harvard's returns have in recent years lagged those of other wealthy universities, and Narvekar said he has started a series of changes that should improve the return rate over time.
The Massachusetts Institute of Technology this month announced that its return for the last fiscal year was 14.3 percent.
