Harvard University's endowment reported a 15.4 percent investment gain for the fiscal year 2014, which brought the endowment assets to US$36. 4 billion, the largest reported in the country's universities.

In a report by the International Monetary Fund, Harvard's endowment would be in between the Gross Domestic Product (GDP) of Jordan and Latvia, which is half of the world's economies.

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Reports indicate that Harvard's return is more than the economic activity of more than 90 countries worldwide.

According to the university, the total investment return was more than the internal goals of the school, but was still below the 16.1 percent median gain tracked by the Wilshire Trust Universe Comparison Service for university endowments.

Meanwhile, Stanford and Yale, which are Harvard's closest rivals in terms of endowment, have yet to report their gains for the fiscal year.

Massachusetts Institute of Technology (MIT), on the other hand, has already reported its endowment of US$12. 4 billion - which is at a 19.2 percent gain.

According to Jane Mendillo, CEO of the Harvard endowment, the current figure is a far cry from the previous endowment when she took the office in 2008.

In a letter released on Tuesday, Mendillo expressed her pride at what the university accomplished in terms of its endowment.

"We have recovered from the financial crisis," she said, adding that she restructured the university's portfolio in order for the finances to rally, following the losses incurred in 2008 and 2009.

In June, Mendillo announced that she would be leaving by the end of the year, a move which analysts speculate was done because of the poor results of the university's investment.

However, according to Mendillo, she will leave the portfolio in a condition wherein it will be able to "continue to deliver substantial returns and cash flow to the university for decades to come.'' 

TagsHarvard University, endowment, business news, Harvard, stanford, Yale