The University of Colorado is taking steps to exit from its investments in Russian companies, sending a message that it stands in solidarity with the people of Ukraine.
“Like so many others, we have watched in horror as this invasion has brought senseless violence and aggression to the region,” said CU President Todd Saliman. “We are looking for ways to show our support for the people of Ukraine and believe that cutting our investments is the right thing to do.”
The University of Colorado’s investments in publicly traded Russian companies, both through its Foundation and the university’s treasury pool, are negligible overall.
The CU Foundation holds less than 0.1% of its $2.6 billion Long-Term Investment Pool in those companies. Fund managers for the Foundation are in the process of selling these securities.
The university is also invested in mutual funds that have equity holdings in Russia. The total invested is less than 0.25% of assets under management, or about $3.5 million at their last valuation. The university has requested that the mutual funds exit these holdings as early as allowable.
“These are small but important steps we can take as a university to stand with the people of Ukraine at this hour,” said Regent Jack Kroll, chairman of CU’s Board of Regents.
Additionally, faculty across CU’s four campuses currently are not conducting research funded by Russian entities and are not sending funds to Russian entities as part of any research project.
“Our hope is that together with other universities and entities across the world, we can raise our voices and help end this conflict,” said Regent Sue Sharkey, vice chair of the board.
Processing the events from overseas can be overwhelming, and the university is aware that students, faculty and staff – particularly those from the region – may be experiencing a range of emotions at this time. Our campuses are providing resources to those who are having a difficult time with this event or need support.