Clintons Put Investments Into Blind Trusts
Aug. 05, 1993
WASHINGTON (AP) _ President Clinton and his family put investments valued at between $295,000 and $1.26 million into blind trusts they cannot control to avoid any potential conflicts of interest.
Separate trusts were established last month for the president, Hillary Rodham Clinton and their 13-year-old daughter, Chelsea, according to a trust agreement released Thursday by the Office of Government Ethics.
The agreement said the accounts were being established to ''avoid the appearance of any conflict of interest.''
The largest of the trusts is Mrs. Clinton's, valued at between $280,000 and $1.06 million. Because the trust agreement lists the worth of the Clintons' holdings in broad ranges rather than specific figures, it was impossible to determine the exact value of the trusts.
Among the holdings placed in Mrs. Clinton's trust was her stake in a growth fund, Valuepartners I, that has invested more than $1 million in health care company stocks.
Mrs. Clinton, who headed the White House task force on health-care reform, owns a 0.9 percent share, valued at between $50,001 and $100,000, in the special growth fund managed by Smith Capital Management Inc. of Little Rock, Ark.
Other holdings placed in Mrs. Clinton's trust include Arkansas state bonds and stock in frozen yogurt chain TCBY Enterprises Inc. and in fashion company Liz Claiborne.
The president's trust holdings were valued at $15,000-$125,000 in IRA assets including various investment funds. Chelsea's fund, valued at up to $75,000, included stock in AT&T and three regional Bell phone companies.
Essex Investment Management Co. of Boston is the investment manager for the trusts and Boston Harbor Trust Co. of Boston is the independent trustee.