University System of Maryland Foundation Takes Position Against the Atrocities in the Sudan
Adelphi, MD-August 10, 2006-The University System of Maryland Foundation (USMF) has taken a stand against companies complicit in genocide in Sudan's Darfur region. In so doing, the USMF has adopted a resolution directing the managers of its actively managed separate accounts of publicly traded equity portfolios not to hold shares in companies appearing on a list of such companies maintained by the foundation's investment staff. Currently, USMF does not have any direct holdings in the identified companies.
"The University System of Maryland Foundation has taken decisive action to protest the Sudan government's atrocities with respect to the people of Darfur," said Walter Fatzinger Jr., chair of the foundation's board. "The extraordinary nature of this deplorable situation compelled the board to act."
Also in accordance with the board's resolution, the USMF staff has communicated the board's decision to all of its endowment investment managers, requesting that they consider the foundation's stand on the issue as they make future investment decisions.
"I applaud the University System of Maryland Foundation for adopting this resolution," said William E. Kirwan, chancellor of the University System of Maryland. "The actions of the government of Sudan with respect to the people of Darfur are abhorrent and it is important that we communicate this as strongly as possible."
The University System of Maryland Foundation is a not-for-profit corporation separate from the University System of Maryland (USM). It receives, manages, and administers donations given to support many of the university system's 13 institutions. Currently, the foundation oversees the investments of more than $700 million, which includes its own assets and those of other affiliated foundations within USM.
Contact: Liz O'Neill