Harvard's $53.2 billion endowment achieved a 9.6% return in fiscal year 2024, driven by strategic manager selection and significant shifts in asset allocation. The endowment reduced real estate and natural resources exposure while increasing private equity and hedge fund allocations, with technology stocks contributing to the strong performance. Despite private equity underperforming relative to public markets, the overall results positioned Harvard favorably among Ivy League peers.
A recent study reveals that independent hospitals acquired by multi-hospital systems see an annual profitability boost of about $14 million, primarily through increased prices and staff cuts. In contrast, corporate-owned hospitals do not experience similar efficiency gains when acquired, indicating a limit to the benefits of consolidation. The findings raise concerns about potential declines in care quality and higher consumer prices following such mergers.
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