Cal State L.A. Approves Divestment Policy
California State University, Los Angeles, Foundation voted 10 to 3 Wednesday to divest all its funds from any corporation or bank that has investments in South Africa, student and administration officials said.
The foundation--which comprises representatives of faculty, students and administration--controls the university’s endowment portfolio of scholarships.
The foundation instructed its finance and executive committees to review the portfolio and devise a plan for gradual divestiture, Prof. Barbara P. Sinclair, president of the foundation’s Board of Trustees, said. She said the matter involves less than $200,000.
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