Second New York City pension fund unloads gun stocks
NEW YORK (Reuters) - A second New York City pension fund has sold its holdings in firearm manufacturers in response to last year's school shooting in Connecticut, the city's top financial officer said on Wednesday.
The $45.7 billion New York City Employees' Retirement System divested its $16.3 million holdings in Alliant Techsystems Inc, Olin Corp, Sturm Ruger & Co, Sm & Wesson Holding Corp and Forjas Taurus SA, Comptroller John Liu said in statement.
The move follows a similar action by the city's teachers retirement system, which sold its gun holdings in February. And in January, CalSTRS, the California State Teachers' Retirement System, sold its investments in manufacturers of firearms and high-capacity ammunition clips.
"Our city's employees do not want their pension dollars supporting companies whose products tear apart families and shatter communities," Liu said.
U.S. teachers and public employees retirement funds began reviewing their investments in firearms makers after 20 children and six adults were shot dead at an elementary school in Newtown, Connecticut in December.
New York state's $150 billion public pension fund said in January that it will stop buying shares of publicly traded firearm manufacturers, including Sturm Ruger.
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