Harvard University's endowment reported a 15.4% investment return for fiscal 2014, a result that exceeded internal goals but trailed gains at some Ivy League rivals.

The world's most affluent university has lagged behind some peers since the financial crisis, and it is still trying to make up for losses incurred during that period. The endowment ballooned to $36.4 billion as of June 30, shy of the $36.9 billion precrisis record it set in June 2008.