California pension fund to divest from gunmakers

[Eugene]

Source: Reuters

California pension fund to divest from gunmakers

SAN FRANCISCO | Fri Apr 12, 2013 7:30pm EDT

(Reuters) - California's pension fund for teachers made official on Friday its plan to divest holdings in firearms companies whose weapons are illegal in the state.

The California State Teachers' Retirement System will now sell holdings in two publicly traded gunmakers Sturm, Ruger & Co and Smith & Wesson Holding Corp. The investments are worth about $3 million.

The divestment plan has been in play since January at the $161.5 billion pension fund after State Treasurer Bill Lockyer advanced it in response to the mass shooting at the Sandy Hook Elementary School in Connecticut in December.

Lockyer sits on the board of the fund, best known as Calstrs, and also pressed it to divest holdings in manufacturers of high-capacity ammunition magazines that are illegal for the general public in California.

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Read more: http://www.reuters.com/article/2013/04/12/us-calstrs-gunmakers-idUSBRE93B18I20130412

[patrice]

1. K&R

[CountAllVotes]

2. weapons are illegal in the state

note this fact which should be part of the headline !!

K&R