Sudan as an arbitrage opportunity? (audio)
Michael Travaglini, executive director of the Massachusetts’ Pension Reserves Investment Management Board, spoke out against divestment legislation that restrains investment based on political causes.
“Genocide in Sudan is going to stop because it’s abhorrent,” he told the Reuters Hedge Funds and Private Equity Summit in New York.
“If I sell these securities, do you think they are going to stay sold? No. There are investors loving these laws because they say ‘I could care less about people getting killed in Sudan, this is an arbitrage opportunity.'” … My point is, it doesn’t work.”
Click below to listen to Travaglini’s comments.
(Photo: REUTERS/Zohra Bensemra)