Word: acsr
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...present process for deciding investment policy at Harvard works like this: Four students, four alumni and four faculty members are selected through various means to serve on the Advisory Committee on Shareholder Responsibility (ACSR), which studies relevant information on upcoming shareholder resolutions for firms in which Harvard owns stock. The ACSR advised the Harvard Corporation on how to vote on the resolutions at the annual meetings of the companies in Harvard's investment portfolio. A subcommittee of the Corporation--the Corporation Subcommittee on Shareholder Responsibility (CSSR)--makes the final decision. The Harvard treasurer, George Putnam '49, tells...
Sounds like Tinker-to-Evers-to Chance? It gets even more complicated. The ACSR-CSSR-Treasurer's Office route is only needed for shareholder resolutions, for those investment issues which involve social and ethical questions. On purely financial issues, Harvard turns to the professional money managers to keep the profit margin steady. Once the treasurer managed the Harvard portfolio in his spare time. But as the size of Harvard's holdings grew, and as the University turned towards the more unpredictable forms of investment, like common stocks--instead of bonds, government securities and real estate--a full-time treasurer...
...Corporation planned to use Monday's open hearing to put its finger on the pulse of student opinion regarding the recently released report of the Advisory Committee on Shareholder Responsibility (ACSR), the verdict seemed clear by the end of the stormy, four-hour meeting...
While the scores of speakers at the meeting often cited different reasons for their opposition to the ACSR report, the overwhelming majority came out strongly against the report for failing to go far enough in breaking Harvard's economic ties with the apartheid system and the South African government...
Daniel Rabinowitz '78, a member of the Southern African Solidarity Committee (SASC) and the first speaker, told the audience and the three Corporation members who were present that "The ACSR report does not end Harvard's complicity in apartheid, nor does it aid in bringing about the destruction of apartheid...