Harvard University Endowment Chief Steps Down After Inheriting Mess

After announcing her departure from Harvard University’s endowment, investment head Jane Mendillo will not be moving to a hedge fund but rather might enjoy semi retirement dabbling in music, education and non profits, she said in a Wall Street Journal article. Endowment posted an annualized return of 1.7% In five years ending June 30 of 2013, Forbes notes the endowment posted an annualized return of 1.7%.  Problem is that is the worst among the ivy league, according to New York Times report. On the surface, that performance isn’t the type that would inspire hedge fund investors to throw money like…