African Activist Archive

This memorandum reports that legislation is pending in 25 states to prohibit investment of public pension funds in U.S. corporations operating in South Africa. It says one can assess the financial consequences of divestment (1) by examining the results obtained by entities that have divested, and (2) by theoretical models using modern portfolio theory to project long-term performance of portfolios with and without South Africa-related stocks. • Entities Which Have Divested • The State of Connecticut • The State of Massachusetts • Michigan State University • The City of Philadelphia • Portfolio Projections • State of California • The State of Connecticut • Washington D.C. • Risk of Investing in South Africa. Attached documents include: "Connecticut, Report To The Investment Advisory Council of South African Investment Law (7/1/82 to 1/31/83""; "Connecticut, Sale Of Securities Not In Compliance With South African Investment Law"; "1979 Common Stock Sales, Michigan State University Portfolios"; "1979 Common Stock Purchases, Michigan State University Portfolios"; "Sale Of Securities Not In Compliance With South African Investment Law"; "Letter to The Honorable Marion S. Barry, Mayor, District of Columbia, from Michael S. Dukakis, Governor, Commonwealth of Massachusetts"; "Combined holdings of State Employees' and Teachers' pension funds in South Africa related companies and banks (paper loss or gain calculated as of Nov. 30, 1982)"; "Final Draft, Massachusetts, The Financial Implications of Divestiture Prepared by Franklin Research"; "The Massachusetts Portfolio Purification by Milt Moskowitz, Business and Society Review"; and "Summary of Remarks Intended For The State Of California, Conference on Investment and South Africa by Mary McCarthy, Ph.D, Vice President Research, Business Environment Risk Information (BERI) S.A."

African Activist Archive

FINANCIAL CONSEQUENCES OF DIVESTMENT FROM SOUTH AFRICA

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