Harvard Endowment Chief Pushed for Steeper Devaluation of Assets

Harvard University’s endowment posted the worst returns in the Ivy League last year—and its new chief pushed for moves that would have made the results even worse.  Harvard Management Co. delivered for the year ended June 30 a return of 8.1%, well off the double-digit percent gains of the University of Pennsylvania and other rivals lifted by a global stock market rally. Newly named endowment chief N.P. “Narv” Narvekar described the return of the world’s largest university endowment as “disappointing.”