Spring Break
Investments questioned
by Supreetha Gubbala
News | 9/16/08
Posted online at 2:45 AM EST on 9/16/08
Independent Voices for Endowment Sustainability and Transparency is continuing last year's campaign to hold the University accountable for the University's social justice mission through a transparent endowment and by investing only in companies that share the University's values, according to club creator Alex Melman '11.
Although it was only created in the fall of 2007, InVEST submitted a draft proposal and 400-signature petition to the Brandeis Board of Trustees' Executive Shareholder Investment Committee last spring asking for the University's endowment investments to be made public to students and to create a student advisory committee to the Board of Trustees.
The student advisory committee, composed of volunteer students and faculty, would advise the Board of Trustees on businesses that compromise the values Brandeis is committed to uphold.
Chief Investment Officer and Vice President for Investment Management Deborah Kuenstner said the Executive Committee of the Board of Trustees unanimously voted against InVEST's proposal because the University already has a socially responsible investment policy.
In April 1973, the Board of Trustees adopted the Brandeis University as a Responsible Investor General Guideline, which states, "Indeed, we believe a university has the ethical responsibility to exercise such power as it has as an investor in ways designed to prevent or correct social injury caused by corporations in which it invests.
Nonetheless, Melman said InVEST wants to make a renewed effort with an edited proposal and petition to the Brandeis Board of Trustees' Executive Shareholder Investment Committee, although he is not sure how it will be different from the original documents.
Melman said a lot of University students are interested in "how the money is invested because … University endowments are probably the most profitably invested sums of money anywhere."
"While the Board are certainly good people, their main priority is sensibly to make as much money as possible for the University," Melman wrote in an e-mail to the Justice. "With such a driving mission, it's always a good idea to have some independent body to remind them of other things they should keep in mind."
Although it was only created in the fall of 2007, InVEST submitted a draft proposal and 400-signature petition to the Brandeis Board of Trustees' Executive Shareholder Investment Committee last spring asking for the University's endowment investments to be made public to students and to create a student advisory committee to the Board of Trustees.
The student advisory committee, composed of volunteer students and faculty, would advise the Board of Trustees on businesses that compromise the values Brandeis is committed to uphold.
Chief Investment Officer and Vice President for Investment Management Deborah Kuenstner said the Executive Committee of the Board of Trustees unanimously voted against InVEST's proposal because the University already has a socially responsible investment policy.
In April 1973, the Board of Trustees adopted the Brandeis University as a Responsible Investor General Guideline, which states, "Indeed, we believe a university has the ethical responsibility to exercise such power as it has as an investor in ways designed to prevent or correct social injury caused by corporations in which it invests.
Nonetheless, Melman said InVEST wants to make a renewed effort with an edited proposal and petition to the Brandeis Board of Trustees' Executive Shareholder Investment Committee, although he is not sure how it will be different from the original documents.
Melman said a lot of University students are interested in "how the money is invested because … University endowments are probably the most profitably invested sums of money anywhere."
"While the Board are certainly good people, their main priority is sensibly to make as much money as possible for the University," Melman wrote in an e-mail to the Justice. "With such a driving mission, it's always a good idea to have some independent body to remind them of other things they should keep in mind."
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