Harvard and Other Big Endowments Trailed the S&P 500. Where They Lost Ground.
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For another year, alternative investments can be blamed for the lagging returns of university endowments. Harvard’s endowment gained 9.6% in the 12 months through June 30. In comparison, the S&P 500 returned 26% in that period, while a 70/30 mix of the S&P 500 and U.S. taxable bonds was up 18%.