Word: indirection
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Dates: during 2000-2009
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Earlier this month, Chicago announced that despite nationwide divestment campaigns urging universities to sell off indirect holdings in companies tied to Sudan, it would maintain its investments. Princeton, however, said last week that it had devised methods to ensure that it had divested fully from Sudan, even pledging to monitor its indirect shares...
Neither Chicago nor Princeton holds direct stakes in Sudan-linked firms, but these differing approaches to indirect investments hold potential lessons for Harvard, which has maintained indirect holdings in Sudan-linked companies from which it had previously agreed to divest...
Though Chicago and Princeton made different decisions on divestment, both laid out policies that encompass their indirect and direct investments—unlike Harvard, which has treated each type of investment differently...
...subcommittee of Harvard’s Advisory Committee on Shareholder Responsibility—composed of faculty, students, and alumni—attempts to evaluate the school’s policy on indirect investments, it will weigh many of the same arguments that ultimately left Princeton and Chicago on divergent paths...
...recent filing also reveals $90,000 in indirect holdings through Barclays’ iShares MSCI Malaysia Index fund in Petronas, a Malaysian company. Petronas, along with PetroChina and Sinopec, is part of a consortium known as Petrodar, which has invested over $1 billion in the Sudanese oil industry...