Academics say £4bn investment fund is ‘designed to prevent any troublesome democratic interference’
Cambridge academics have accused the university of “maximal obfuscation” in a row over its £4bn investment fund and how it profits from investing in arms manufacturers.
The university’s governing body is expected to meet on Monday to consider a report on its financial ties to the defence sector, but some senior staff have said investments cannot be properly scrutinised because the institution has not been transparent about the companies involved.
The focus of Monday’s discussions will be the university’s endowment fund, worth about £4.2bn. The fund was set up to ensure the organisation’s long-term financial security and is managed by the University of Cambridge Investment Management Limited (UCIM), a private company owned by the university.
The company operates as a “fund of funds” – a complex financial structure that means its money is spread across a wide range of sectors and overseen by an investment manager.
