Harvard University's endowment earned an 11.3 percent gain on investments in the most recent fiscal year to surge to $32.7 billion, university officials said. The endowment for the nation's wealthiest university for the fiscal year that ended June 30, however, remains well below the high-water mark of almost $37 billion reached in 2008 before the worldwide financial crisis cost Harvard about $11 billion. Jane Mendillo, president and CEO of Harvard Management Co., which oversees the Ivy League university's investments, said the endowment beat benchmarks and has recovered well since the recession started.
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