Word: petrochina
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Harvard maintains that stake despite its April 2005 announcement that “the unique pattern of circumstances relating PetroChina to the crisis in Sudan counsels in favor of taking the extraordinary step of divestment...
...Harvard still indirectly owns significant quantities of stock in both PetroChina and Sinopec...
According to the most recent data provided by Barclays, the China fund had invested 8.4 percent of its assets in PetroChina and 4.2 percent in Sinopec, meaning that Harvard holds about $4.3 million of stock in PetroChina and $2.1 million in Sinopec through that arrangement...
Meanwhile, the emerging markets fund had invested 1.1 percent of its assets in PetroChina and 0.7 percent in Sinopec, meaning that Harvard holds another $5.7 million in PetroChina stock and $3.5 million in Sinopec through that mechanism...
...revelation that the University could own $16 million in PetroChina and Sinopec stock is particularly stunning considering that at the time of the earlier, highly-publicized divestitures, Harvard’s disclosed direct investment in the two companies totaled just $10 million...