In 2016, Harvard had bad news to share in its annual financial report: Its endowment value had dropped nearly $2 billion. The report, released that November, detailed the endowment’s lackluster returns by disclosing how the Harvard Management Company performed in a variety of asset categories against internal and external benchmarks.
Johns Hopkins University’s endowment woes are not unusual. Endowments across the country lost a median 10.2% of their value, according to a national study.
The dual outcomes of saving the world and generating excess returns has been made harder to deliver because of ESG scoring in emerging markets a senior Aegon portfolio manager has said.
Climate-minded academics called on a United Nations-backed group to sanction financial services firm TIAA unless it improves its environmental record, highlighting the divide between nonprofits moving away from fossil fuels and big investors sticking with oil and gas stocks.
New York City Comptroller Brad Lander unveiled today a new interactive website that allows pension beneficiaries and the public to view asset allocation and performance for the City’s five public pension funds which guarantee retirement security for city workers.