ETHAN ROGACION (HE/HIM)
Did you know that the University has a lot of money? Well, I mean clearly not enough for it to function properly, but a lot of money nonetheless. Te Herenga Waka, like all other businesses, endeavours to invest its money in a way that generates the highest returns.
Student Justice for Palestine are calling on the VUW Foundation—which manages all of its investments—to divest from any funds with ties to the Israeli government.
As SJP’s Frank Mackenzie told Salient, the Foundation has been less than transparent about the places that it invests. “It’s been a real uphill battle,” he said. “I mean, I think it’s how finance works: it’s not set up for accountability or disclosure.”
While the Foundation is a proud signatory of the United Nations Principles for Responsible Investment, they concede that some of their current investments benefit the Israeli government.
A spokesperson for the VUW Foundation Trust revealed to Salient that “one of the investment funds in which the Foundation invests currently holds four bonds issued by the Israeli Government, amounting to approximately 0.58% of the ANZ fund in question.” This amounts to an investment of $47,532.
The statement indicated that the Foundation is in the process of reviewing where its funds are held, due largely to ANZ leaving the wholesale fund management market.
“The process to identify new fund managers to replace ANZ has put an emphasis on high environmental, social and governance standards and fund managers that are transparent through their reporting and engagement with investors like the Foundation.”
Editor’s Note: Information is dated to the 1st of August. Click this link for further reporting.