Virginia public colleges asked to verify investments aren't tied to politics
Virginia public colleges were asked to ensure that their investments aren't tied to politics.
Virginia public colleges were asked to ensure that their investments aren’t tied to politics.
According to Cardinal News, Virginia Education Secretary Aimee Guidera and Finance Secretary Stephen Cummings sent the letter to state colleges, asking them to ensure a “commitment to invest in a manner that prioritizes risk-adjusted investment returns independent of social, political or ideological interests.”
Virginia Gov. Glenn Youngkin made comments to the state Council of Presidents in March regarding investments, according to the letter.
Guidera and Cummings also cited in the letter “recent calls for colleges and universities to divest assets tied to Israel.”
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Christian Martinez, a press secretary for Youngkin, told the outlet that public colleges and universities in the state need to be transparent regarding their investments.
“The Governor called on our public colleges and universities to bring scrutiny and transparency to their endowment and foundation investment practices and to apply widely accepted investment principles currently used by other Commonwealth agencies,” Martinez said. “The Governor remains focused on ensuring our taxpayer-supported institutions invest independent of politics to protect the financial interests of our public institutions and their recognition as the best in the nation.”
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Martinez added that Youngkin “believes that investment decisions impacting our taxpayer-supported institutions of higher education, including those made by an institution’s related foundations, must be objective and independent of political agendas.”
