New Harvard’s Endowment Manager Shakes Things Up

Harvard University’s endowment fund was once the envy of its peers–with average annual returns of more than 14% per year from 1990 to 2005—but the party has come to a chilling end since, with average gains over the last ten years falling to the second-lowest in the Ivy League. This according to a recent article in The Wall Street Journal. The esteemed institution has since hired N.P. “Narv” Narvekar, to turn things around. He’ll be the endowment’s fourth chief executive in a decade, and will earn a whopping $6 million per year, guaranteed for three years. The changes underway are […]