Harvard Management Company (HMC) manages an endowment fund which is based in Boston, Massachusetts. Established in 1974, HMC manages Harvard University's endowment and related financial assets. The mission is to produce long-term investment results to support the educational and research goals of the university. It operates as a subsidiary of Harvard University Endowment. The assets are managed by the executive management team.Harvard Management Company's investment portfolio is valued at over $40.9 billion, with investments in publicly-traded equity, fixed income securities, real estate, hedge funds, private equity, natural resources, real assets, and cash. The endowment's return for the year ended June 30, 2019, was 6.5%