By Hilary Russ
Jan 15 New York state's $150 billion public
pension fund will stop buying shares of publicly-traded firearms
manufacturers, including Sturm Ruger & Company Inc, New
York State Comptroller Thomas DiNapoli said on Tuesday.
The state pension fund holds 45,325 shares of Sturm Ruger
valued at about $2.2 million in an index fund, he said in a
Asked whether the fund would sell its Sturm Ruger holdings,
a DiNapoli spokesman said that decision was "further down the
Public pension funds have been examining and in some cases
divesting their firearms holdings in the wake of the deadly
Connecticut elementary school shooting in December.
On Jan. 9, the $154-billion California State Teachers'
Retirement System said it would sell its investments in
manufacturers of firearms and high-capacity ammunition clips
that are banned in California, like the assault rifle used in
the school massacre in Newtown, Connecticut.
The New York State Common Retirement Fund sold all of its
holdings in Smith & Wesson Holding Corp. on Dec. 18,
New York's public pension "will not buy stock in companies
whose primary business is manufacturing firearms for commercial
sale," DiNapoli said.
The New York fund, the third largest public pension fund in
the United States, is not invested in any other public companies
that make their primary source of revenue from the manufacture
of firearms, DiNapoli said.