Harvard’s in-house fund managers get 70 pct pay hike
By Richard Valdmanis
By Richard Valdmanis
CAMBRIDGE, Massachusetts, May 14 (Reuters) - Harvard, the world's richest university, said on Thursday it paid its six in-house money managers a combined $49.3 million in 2013, up more than 70 percent from the previous year, citing the team's "outperformance" in growing its endowment fund.
The team oversaw an investment return of 15.4 percent for the Ivy League school's endowment during the fiscal year ended June 30, 2014, bringing it to $36.4 billion, or roughly the size of an average country's annual gross domestic product.
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