FYI: Think you have a hard time beating the U.S. stock market? Consider Harvard University’s endowment fund, which at more than $40 billion is the largest academic endowment in the world. It is run by some of the smartest investment managers around.
Yet for the fourth fiscal year in a row — and the ninth of the last 10 — Harvard’s endowment lagged the S&P 500.
Here are the specifics: For the fiscal year ending June 30, Harvard reported last week, its endowment gained 6.5%, versus 8.2% for the S&P 500 on a dividend-adjusted basis. The only year of the last 10 in which the endowment came out ahead was fiscal 2015, in which it beat the S&P 500 by half of a percentage point.
Regards,
Ted
https://www.marketwatch.com/story/heres-what-you-likely-have-in-common-with-harvards-endowment-managers-2019-10-08/print
