Wherever UF's investment money may be going, it can't be construed to be funding the war in any manner. Money shuffled around on stock exchanges or bond markets never sees the company in question unless the stock or bond is being purchased directly from the company - a tiny, tiny fraction of trading volume and almost certainly not the case.
"Socially responsible investing" is solely a moral matter for the investor and rarely an effective protest. Many people would never buy stock in a company that manufactures cigarettes, but that doesn't prevent more than 11 million shares of Altria Group Inc. from trading hands each day. The same is true of any company doing business in Iraq. With that in mind, it's fine to take a stand from moral ground, but that stand won't actually make a difference.
