Reuters: U.S.: Calpers to sell investments in two gun makers

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Calpers to sell investments in two gun makers Feb 19th 2013, 23:47 Tweet Share this Email Print Related News Calpers to divest holdings in makers of guns banned in California 3:22pm EST Connecticut shooter wanted to top Norway death toll: CBS 11:17am EST Colorado House passes gun-control measures Mon, Feb 18 2013 Obama honors six staff killed in Newtown school massacre Fri, Feb 15 2013 NYC teacher pension fund pulls money from gun makers Fri, Feb 15 2013 Analysis & Opinion Pension plans are making a comeback California AG's false claims case vs S&P: secret route to issuers? Related Topics Investing and Taxes Simplified » U.S. » Calpers headquarters is seen in Sacramento, California, October 21, 2009. Credit: Reuters/Max Whittaker SACRAMENTO, California | Tue Feb 19, 2013 4:04pm EST SACRAMENTO, California (Reuters) - The investment committee of Calpers, the biggest U.S. pension fund, voted on Tuesday to divest its holding in two manufacturers of guns and high-capacity ammunition clips banned in California. The move affects about $5 million in investments in Smith & Wesson Holding Corp and Sturm, Ruger & Co at the $254 billion California Public Employees' Retirement System, best known at Calpers. The vote follows a divestment motion by Calpers board member, investment committee member and California State Treasurer Bill Lockyer in response to the massacre at Sandy Hook Elementary School in Newtown, Connecticut in December. Lockyer said divestment by Calpers would be largely symbolic given the amount of money involved but argued to fellow investment committee members that it would hold "special meaning" for school faculty and employees who are members of the pension fund. Lockyer also sits on the board of the California State Teachers' Retirement System, which decided last month to divest its holdings in makers of firearms and high-capacity ammunition clips illegal in California. A semi-automatic rifle used at the Sandy Hook school is banned in California. The mass shooting in Newton has sparked a national debate regarding gun control, with some pension funds flexing their financial clout to weigh in on the issue. New York City's top financial officer said on Friday that the city's $46.6 billion teachers' pension fund pulled its money out of publicly traded firearms manufacturers. According to New York City Comptroller John Liu, the five companies from which the fund divested are Alliant Techsystems Inc, Olin Corp, Forjas Taurus SA, Smith & Wesson and Sturm, Ruger. (Reporting by Jim Christie) Investing and Taxes Simplified Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above.

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