Harvard, Searching for Endowment Manager, Reports a Loss

Harvard is looking for a new manager for its endowment, the largest of any university. And based on results announced on Thursday, there will be plenty of room for improvement.  The university reported an overall loss of 2 percent on its investments for the year ended on June 30, bringing their value to $35.7 billion. While many endowments have been posting slightly negative returns for the last fiscal year, Harvard’s showing comes after years of poor performance as a series of investment chiefs have come and gone.