oa Comparative and International Law Journal of Southern Africa - Divestment in the United States: trust law and the law of charities
|Article Title||Divestment in the United States: trust law and the law of charities|
|© Publisher:||Institute of Foreign and Comparative Law|
|Journal||Comparative and International Law Journal of Southern Africa|
|Affiliations||1 Comparative Law and Legal Philosophy, University of Pretoria|
|Publication Date||Mar 1990|
|Pages||34 - 52|
|Keyword(s)||Fiduciaries, Fiduciary duties, Investment decisions, Legal standards, Non-profit fiduciary funds, Non-South African divestments, Transaction costs, Trust law and United States of America|
In this article the question whether anti-South African divestment by private (as opposed to public) fiduciaries is legal, is investigated in view of the obligations American law imposes on such fiduciaries. Some writers have argued that in most cases decisions to divest, when they are costly, involve a transgression of the standards of conduct applicable to those who administer the particular funds concerned. Others, however, lean in the opposite direction, and argue that decisions to divest from some or any South African related investments - even when costly - more often than not are within the scope of the discretion of fiduciaries. The merits of these different views are investigated.
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