Word: payout
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...with its $22.6 billion coffers. The Harvard Management Company, which invests the endowment, achieved a 21.1 percent return during fiscal 2004—a return it says leads the endowments of other large universities. Around a third of the University’s annual budget comes from the endowment payout...
...University solicited a study from the Harvard Management Company, which invests the endowment, to assess how payout should be determined...
...doesn’t take into account anything specific that’s happening within the University that you might want to consider when making a payout decision,” Berman said...
Last year, for example, the Corporation voted to up the payout increase to 4 percent after initially threatening a 0- and then 2-percent jump...
...what Berman has described as a last resort, the University could consider decapitalizing the endowment, or withdrawing funds beyond the standard payout, to provide still further income for the expansion...