Mon 28 Nov 2005
Funding the Peace Prize with money from Missiles and Cluster Bombs
The Local reports that some of the capital of the Nobel Foundation could be invested in missiles and cluster bombs. Some of the investing activities of the Nobel Foundation go to fund the peace prize.
The Nobel Foundation refused to say exactly what companies they are investing in and are denying that they are invested in weapons. Most of their portfolio is managed by a investment company T Rowe Price.
Quote: “The American investment management firm T Rowe Price administers part of the Nobel capital under the instruction of the Nobel Foundation.
The Nobel Foundation has its own portfolio at the company, but in the general portfolio, T Rowe Price invests in the weapons industry. Two examples are Lockheed Martin, which produces parts of cluster bombs and advanced nuclear missiles, and Honeywell International, which has a central role in the USA’s nuclear weapon’s program.”