oa Comparative and International Law Journal of Southern Africa - The legal implications of public pension funds divestment of investments in companies doing business in South Africa



As chairman of the Board of Directors of the Public Employee Retirement Association of Colorado, the author felt compelled to engage in legal research of Colorado law with regard to the South African divestiture issue when the investment committee of PERA was called upon to deal with it in a proposal that required divergence from the direct financial benefits of investment safety and return for retirement security. In the article the author examines the legal basis in Colorado law for the Board's consideration of the 'issue' and offers to the reader a legal rationale for the ruling made by Judge Woodrich and insight as to how the "prudent man rule" in his or her state would apply to the issue if he or she had to face it as a member of a board of directors of a public pension fund.


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