In 2014, the Johns Hopkins University Board of Trustees reaffirmed its position on investment responsibility regarding separately invested endowment funds. Specifically, the board approved the following statement:
The primary fiduciary responsibility of the University trustees in investing and managing the University’s endowment is to maximize the financial return on those resources, taking into account the amount of risk appropriate for University investment policy. If the trustees adjudge that corporate policies or practices cause substantial social impact, they, as responsible and ethical investors, shall give independent weight to this factor in their investment policies and implementation.
Through the Committee on Investments and the President, the trustees will receive and weigh advice and recommendations by the Public Interest Investment Advisory Committee concerning social issues related to those corporations in which the Hopkins endowment is separately invested.
Reflective of that position, the university has reconvened the Public Interest Investment Advisory Committee (PIIAC).
More than 30 years ago, university trustees approved their first statement on investment responsibility. It created a framework to consider whether the policies or practices of corporations in which the university might invest cause substantial social impact. With the active engagement of the university community, Johns Hopkins divested from companies doing business in South Africa in the 1980s and from tobacco companies in the 1990s.
Today, our students, faculty, and staff continue to engage in debate over important social issues. PIIAC has been reconvened to consider issues related to separately invested endowment funds. Where appropriate, it will make recommendations to the university leadership and the Board of Trustees’ Committee on Investments.
Provost and Senior Vice President for Academic Affairs
Daniel G. Ennis
Senior Vice President for Finance and Administration
Questions about PIIAC? Please e-mail us at PIIAC@jhu.edu.
Office of the Provost
265 Garland Hall
3400 North Charles Street
Baltimore, Maryland 21218
Phone: (410) 516-8070
Fax: (410) 516-8035