09.12.2008 - Real estate returns add to Harvard woes
From IPE: Harvard University’s endowment has lost $8bn (€6.3bn) of investments in the first four months of the university’s fiscal year and is expected to deliver the worst annual returns in 40 years, officials have announced. Harvard’s endowment, which is the largest university endowment in the United States and had asset under management of $36.9% at the end of June, lost approximately 22% of its investments in the three months between July and October 31 as a result of the financial crisis affecting all major asset classes, including real estate..... Full Article: Source