Governor and Cabinet Vote to Bar State Investments in Venezuela
August 16th, 2017 by Jake Stofan
Florida’s $150 billion pension plan doesn’t have any investments in the Venezuela and after action by the Governor and Cabinet today it wont in the future.
The move was an act of protest by the state against the country’s current President, Nicolas Maduro.
“We evaluated a number of opportunities as I said and I thank the trustees for their prudence and thoroughness. We looked at this very carefully. We reconciled essentially the facts, the law and our fiduciary duty and we believe what we did today was prudent and within all of our obligations,” said Ash Williams, Executive Director of the State Board of Administration.
The restrictions have been criticized by Democrats who say they should also apply to companies that invest in Venezuela, like Goldman Sachs.
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