CU Will Liquidate Investments With Russian Companies

BOULDER, Colo. (CBS4) - The University of Colorado system will liquidate their "limited assets" in Russia, as they stand in support of Ukraine.

The CU Foundation previously had less than 0.1% of its $2.6 billion Long-Term Investment Pool in publicly-traded Russian companies. The university also has invested in mutual funds with holdings in Russia. The total is roughly $3.5 million, and university system management has requested those mutual funds exit the holdings as early as possible.

"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 statement on Wednesday. "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."

Faculty across CU's four campuses are currently not conducting any research funded by Russian entities, and are not sending funds to any Russian groups as part of any research project.

"These are small but important steps we can take as a university to stand with the people of Ukraine at this hour," Regent Jack Kroll, chairman of CU's Board of Regents, said.