Students call for Wright State foundation to divest from hedge funds

Wright State University students will gather Friday morning to call for the university’s foundation to divest from a hedge fund in its endowment.

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Students will gather at 10:30 a.m. in room 107 of the student union for a press conference to provide details of the WSU foundation’s hedge fund holdings. Wright State student Jasmine Howell, 20, of Cleveland, is leading the effort.

Hedge fund holdings make up about $6 million or 8 percent of the foundation’s nearly $80-million endowment, according to a statement from WSU spokesman Seth Bauguess. Six of the last eight years of the funds have performed positively, according to the statement.

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“The Foundation’s Investment Committee has been concerned that the returns are not providing the overall boost to the return that it had anticipated,” the statement read.

The foundation’s investment committee is evaluating the hedge fund performance of the endowment. The findings of that evaluation could result in divestiture, but that is unknown at this point, according to the statement provided.

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