"The focus of Monday's discussions will be the university's endowment fund, worth about 4.2bn. The fund was set up to ensure the organisation's long-term financial security and is managed by the University of Cambridge Investment Management Limited (UCIM), a private company owned by the university. The company operates as a fund of funds a complex financial structure that means its money is spread across a wide range of sectors and overseen by an investment manager."
"UCIM told a working group established to examine its financial interests that it has no direct investments in weapons. However, it admitted that a small proportion of its investments about 1.7% are held in the aerospace and defence sector. So far, it has refused to reveal which companies these investments relate to. An open letter shared by the university's students' union claimed this could mean up to 70m is invested in arms manufacturers."
Cambridge's governing body is expected to meet on Monday to consider a report on financial ties to the defence sector. The university's endowment fund, worth about 4.2bn, is managed by University of Cambridge Investment Management Limited (UCIM) and operates as a fund of funds. Students staged a pro-Palestine encampment in 2024 and won a commitment to review links to the arms and defence industry. UCIM told a working group it has no direct investments in weapons but admitted about 1.7% of its holdings are in the aerospace and defence sector. UCIM has so far refused to name the companies; a student open letter estimated this could mean up to 70m invested in arms manufacturers.
Read at www.theguardian.com
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