Alumni Group Urges Harvard Endowment-Manager Bonuses Be Refunded

A group of 10 Harvard alumni wants the university’s endowment, which has lost more than $8-billion since the end of the last fiscal year, to seek the return of $21-million in bonuses paid to money managers, The Boston Globe reports.

The 1969 graduates sent a letter of protest to Harvard President Drew Faust over the payments, which were disclosed last month. From June 30 to October 31 Harvard’s endowment shrunk from $36.8-billion to $28.7-billion, and Faust has warned of an overall 30-percent drop by the end of this fiscal year.

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