Harvard and Yale on Thursday disclosed big losses in their endowments in the last year, signalling yet more cost cuts at the prestigious US schools, reports the NYT. Harvard’s endowment tumbled 27.3% in its latest fiscal year, amid problems with its private equity and hedge fund portfolios, lopping off $10bn and shrinking its portfolio to $26bn. Taking into consideration donations and spending, the endowment shrank by nearly 30%. Yale also suffered about a 30% loss in its endowment, to about $16bn.

This entry was posted by Gwen Robinson on Friday, September 11th, 2009 at 4:33 and is filed under Capital markets. Tagged with harvard, Yale. Edit this entry.