US. State pensions and fund companies feel heat over their investments in gun makers
A fresh wave of scrutiny is washing over big state employee pension funds and money managers that invest in shares of gun makers one week after the deadly shootings in a Florida high school.
New Jersey state lawmakers on Thursday moved to restrict the state’s public pensions from investing in the stocks of gun manufacturers. The world’s biggest asset manager, BlackRock, which is among the biggest shareholders of gun makers, said it would “engage” with the companies on their response to recent events.
State pensions that own stocks of gun makers, and to a lesser extent, gun retailers, came under criticism after the Feb. 14 shooting, in which 17 people died. Florida’s State Board of Administration, which manages $191.5 billion for the Florida Retirement System pension and other funds, has small stakes in Sturm Ruger and American Outdoor Brands, according to FactSet.
Read More: CNBC
