The trustees’ rejected a nonbinding resolution from legislators, which Governor Mike Beebe signed, encouraging such divestment, according to a news report from the Arkansas News Bureau.
Only one company identified as having a continuing
interest in Sudan is held by the system and that holding
is worth less than $1 million, a relatively small sum for
the more than $10-billion fund, according to the news
“It’s virtually a non-issue with respect to this portfolio,” executive director Paul Doane said at the board’s investment committee meeting, according to the news report.
The fund also has a holding in Siemens AG, which is voluntarily terminating its interests in Sudan.
However officials said they will request the fund’s non-U.S. managers to avoid making future investments in companies identified as having a significant business interest in Sudan and to eliminate any existing stakes if and when they determine it prudent, Doane said.
The system includes 82, 000 working members who are paid an average salary of $ 32,230 a year, and 25, 500 retired members receiving an average annual retirement benefit of $ 18,620.