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CU to liquidate investments in Russian companies

CU said its investments in publicly-traded Russian companies are "negligible overall."

BOULDER, Colo. — The University of Colorado is taking steps to liquidate its investments in Russian companies after that country's invasion of Ukraine.

“Like so many others, we have watched in horror as this invasion has brought senseless violence and aggression to the region,” CU President Todd Saliman said in a release. “We are looking for ways to show our support for the people of Ukraine and believe that cutting our investments is the right thing to do.”

> Video above: Sen. Bennet discusses US response to Russian invasion of Ukraine

CU said its investments in publicly-traded Russian companies, both through its foundation and through the university’s treasury pool, are "negligible overall." 

The university said the CU Foundation holds less than 0.1% of its long-term investment pool in those companies. Fund managers are in the process of selling those securities, CU said. 

The university is also invested in mutual funds that have equity holdings in Russia. The total invested is less than 0.25% of their assets under management, CU said. They have requested that the mutual funds exit those holdings as soon as possible. 

RELATED: Polis says Colorado will impose sanctions against Russia

The announcement comes after Gov. Jared Polis asked Colorado colleges and universities to divest their endowments from Russian-owned assets. The request was part of a series of steps the governor took in response to the invasion. 

Polis also asked higher education institutions to review and reconsider any grants or projects they have with Russia. 

CU said "faculty across CU’s four campuses currently are not conducting research funded by Russian entities and are not sending funds to Russian entities as part of any research project."

Last week, the Colorado Public Employees’ Retirement Association (PERA) announced that in response to federal sanctions, it would divest millions from Russia's largest financial institution.

RELATED: Colorado public pension fund to divest $7.2 million from Russian bank

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