Word: petrochina
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Dates: during 2000-2009
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...Harvard Management Corporation (HMC) has not divested from PetroChina and Sinopec. Despite declaring in April, 2005 its intentions to withdraw investments from PetroChina due to “the unique pattern of circumstances relating PetroChina to the crisis in Sudan,” and shortly thereafter promising to cut ties with oil giant Sinopec as well, Harvard’s stake in the two companies has actually increased from $10.1 million to $15.7 million. The current holdings come as a result of Harvard’s investments in two index funds managed by the British investment bank Barclay?...
Because Harvard owns the PetroChina and Sinopec shares through index funds, the University can only divest from the companies by selling off its entire stake in each of the two iShares entities...
...Ivies have made some move to divest from Sudan-related stocks following Harvard’s 2005 announcement that it would sever ties to PetroChina...
...NUMBERS Harvard’s stakes in PetroChina and Sinopec have increased since the University “divested?...
HARVARD STILL HOLDS SUDAN STAKE: Through index fund, school owns estimated $6.6 million in PetroChina, Sinopec stock...