SI Announces Divestiture

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Summary

The Smithsonian Institution announces that is will sell its holdings in an international equity portfolio because that investment "can be perceived as inconsistent" with Smithsonian policy barring investment in companies involved in South Africa that do not subscribe to the Sullivan Principles. The Board of Regents approve the selling of the stocks of companies that have operations in South Africa from the SI portfolio at its May 11, 1987 meeting. In June 1985, the SI sells $9.2. million in stocks in 15 U.S. companies in South Africa which had not signed the Sullivan Principles.

Subject

Board of Regents

Category

Chronology of Smithsonian History

Notes

  • "The Torch" says that the instruction to sell the Institution's holdings in South Africa was given by Carl Humelsine (acting chairman of the Board of Regents' Investment Policy Committee) after the Jan. 27, 1986 Regents' meeting.
  • Smithsonian Institution Archives, Record Unit 371, Box 5, "The Torch," March 1986, p. 1.
  • Smithsonian Institution Archives, Record Unit 371, Box 5, "The Torch," June 1987, p. 1.
  • Smithsonian Institution Archives, Record Unit 371, Box 4, "The Torch," August 1985, p. 2.
  • Smithsonian Institution Archves, Record Unit 7098, "Robert McC. Adams Chronology."

Contact information

Institutional History Division, Smithsonian Institution Archives, 600 Maryland Avenue, S.W., Washington, D.C. 20024-2520, SIHistory@si.edu

Date

January 28, 1986

Topic

  • Policies
  • Controversies
  • Finance

Place

South Africa

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