NEW YORK, Oct 13 (Reuters) - Harvard University's endowment fund, the world's largest university endowment, lost money during the last year, marking a dramatic U-turn from the previous year's double-digit gains.
Rattled by tumbling global markets, Harvard Management Co said it lost 1.8% in the fiscal year ended June 30, leaving the total endowment at $50.9 billion.
Brown University lost 4.6%, decreasing the value of its endowment to $6.5 billion, the school said.
Harvard's endowment chief noted that some other universities boosted returns by getting into the conventional energy sector.
Last year, Harvard pledged to stop investing in fossil fuels after years of pressure from students, faculty and alumni.