Foundation Management Regulation has promulgated since 2004. University education foundations have sprung up, especially among the 985 and 211 key universities The Ministry of Finance and the Ministry of Education have implemented donation matching policy towards subordinate universities since 2009, leading to a rapid growth of donated funds. The university education fund starts to put attention on the operation of the increasingly accumulated funds. This paper takes Harvard University education fund as an example, analyzing its portfolio management and investment strategy and giving some advices on the management of university education fund in China.