Spring Break
Formalized group will review University's investments
by Rebecca Klein
Editorial assistant
News | 10/28/08
Posted online at 2:49 AM EST on 10/28/08
Within the next few weeks, the Student Union hopes to create a formalized body through which students can voice their opinions about the companies in which the University invests its endowment, which could alter Brandeis' financial review process, said Student Union President Jason Gray '10.
Gray explained that currently the University Board of Trustees decides where the University's $750 million endowment is invested.
Students can make recommendations about the endowment through "access points," including the Student Union, the Graduate Students Association, the Faculty Senate and through President Reinharz, Gray said. He said the University's investment department or an appropriate committee within the Board of Trustees makes decisions based on recommendations presented to them.
"I want to take the access points through the Student Union … and formalize [the process] so that there's a channel for students to be involved in making recommendations regarding investment levels and initiating shareholder resolutions pertaining to social and ethical issues," Gray said.
Senator for the Class of 2011 Alex Melman said that last year his group, Independent Voices for Endowment Sustainability and Transparency, started an initiative to push the University to invest only in companies that share the University's values and to have a transparent endowment. He said the idea for the student board developed out of this initiative and may include representation from the faculty senate and the Graduate Students Association.
Melman said, "Investments should reflect our social and environmental values." He added that the University is resistant to making its investment holdings public, so the group will additionally lobby for investment transparency.
"The University shouldn't be hiding its investments … . We're a community-based University."
The formalized student committee would report to Deborah Kuenstner, the University's chief investment officer for guidance.
Gray explained that currently the University Board of Trustees decides where the University's $750 million endowment is invested.
Students can make recommendations about the endowment through "access points," including the Student Union, the Graduate Students Association, the Faculty Senate and through President Reinharz, Gray said. He said the University's investment department or an appropriate committee within the Board of Trustees makes decisions based on recommendations presented to them.
"I want to take the access points through the Student Union … and formalize [the process] so that there's a channel for students to be involved in making recommendations regarding investment levels and initiating shareholder resolutions pertaining to social and ethical issues," Gray said.
Senator for the Class of 2011 Alex Melman said that last year his group, Independent Voices for Endowment Sustainability and Transparency, started an initiative to push the University to invest only in companies that share the University's values and to have a transparent endowment. He said the idea for the student board developed out of this initiative and may include representation from the faculty senate and the Graduate Students Association.
Melman said, "Investments should reflect our social and environmental values." He added that the University is resistant to making its investment holdings public, so the group will additionally lobby for investment transparency.
"The University shouldn't be hiding its investments … . We're a community-based University."
The formalized student committee would report to Deborah Kuenstner, the University's chief investment officer for guidance.
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