Case Study: Manchester University Clean Investment Campaign 2005/2006

In our 2005 campaign Manchester University were highlighted as one of the biggest university investors in arms trade. Below is an illustration of how a concerted campaign can achieve great results, giving a timeline showing how the steps taken by campaigners at the University led to divestment.

A Timetable for Clean Investment

CAAT Universities Clean Investment Campaign launched.

SOAS sell their arms company shares.

Student Direct reports on Manchester University's arms trade shares - this is the key student newspaper for the University and central in getting information to thousands of students across the campus.

Student campaigners organise a talk on the arms trade with speakers from CAAT and SPEAK.

Die-in held

Student Union pass policy supporting Universities Clean Investment Campaign as a priority campaign for 3 years with a campaign budget, as reported in Student Direct.

According to Indymedia: 'The almost unanimous vote by more than 300 students follows a series of recent protests against the university’s shares in the arms trade. At several occasions during the past few months students lay on the ground on campus wearing T-shirts covered in red spots while the others posed with toy guns, distributed flyers and held up a banner painted with The University of Manchester logo and the phrase "Established to fund the arms trade"'

Students meet with the Director of Finance, as reported in Student Direct to discuss Clean Investment. He is helpful in establishing how the university invests and why.

Manchester University's annual financial review. Student campaigners send letters to the people involved in the finance committee to clarify their concerns regarding investments.

Clean Investment put on the committee's agenda under the heading 'Management of the University's Investments'.

Following student campaigns and meetings with the Finance Director, Student Direct reports that the Vice-Chancellor confirms future commitment to ethical investment.

CAAT research discovers that Manchester University have sold 168,000 BAE Systems shares.

Student campaigners receive email update from Finance Director on draft Ethical investment Policy. Email says that consultation included the 'University Senate and Board of Governors, as well as individuals...and our newly appointed Investment Managers '

The draft document has been sent to the President who is 'considering the next steps...I expect that we will produce a revised draft in the next few weeks.'

Manchester University reply to CAAT's Freedom of Information Act request as follows:

1. Please state the value of the University's total investment assets: £163, 810, 126
2. Please state the number and value of shares that the University holds directly in each of the arms companies listed as of 31 March 2006: GKN Group - 68,000 shares; Smiths Group - 40,000 shares
3. Please state the number and value of shares that the University holds indirectly (eg in pooled funds) in the arms companies listed as of 31 March 2006: We had no pooled funds as of 31 March 2006
4. Please say whether you have an ethical investment policy and if so please attach a copy: We have a current investment policy which only specifically prohibits investment in tobacco companies. A new, wider ranging, ethical investment policy is in draft form and should be available soon. I have not provided a copy as it does not count as a policy until it is approved - if you want to see a copy of the current draft I can make enquiries, although my guess is that the University would wish to withhold it under s22 of the Freedom of Information Act (information intended for future publication).