Harvard University Endowment Chief Steps Down After Inheriting Mess

After announcing her departure from Harvard University’s endowment, investment head Jane Mendillo will not be moving to a hedge fund but rather might enjoy semi retirement dabbling in music, education and non profits, she said in a Wall Street Journal article.

Endowment posted an annualized return of 1.7%

In five years ending June 30 of 2013, Forbes notes the endowment posted an annualized return of 1.7%.  Problem is that is the worst among the ivy league, according to New York Times report.

On the surface, that performance isn’t the type...