Calpers to divest holdings in makers of guns banned in California

SACRAMENTO, Calif. Tue Feb 19, 2013 3:22pm EST

SACRAMENTO, Calif. Feb 19 (Reuters) - The investment committee of Calpers, the biggest U.S. pension fund, voted on Tuesday to divest its holding in manufacturers of guns and high-capacity ammunition clips banned in California.

The move affects about $5 million in investments at the $254 billion California Public Employees' Retirement System, best known at Calpers, and follows a divestment motion by investment committee member and California State Treasurer Bill Lockyer in response to the Newtown, Connecticut, school massacre in December.