Formed in 1974, Harvard Management Company (HMC) manages Harvard University’s endowment and related financial assets. Here is the excerpt from HMC website and Annual Endowment Report 2014.
“Over the long term, HMC has produced excellent investment returns for the Harvard University portfolio. The annualized return on the endowment over the last 20 years has been 12.3% per year and the endowment was valued at $36.4 billion at June 30, 2014. In fiscal year 2014, distributions from the endowment contributed almost a third of the University’s operating budget. The following charts show historical investment returns and the total value of the endowment.