Mass. Treasurer Reviews Pension Fund Gun Holdings

Dec 19, 2012

Massachusetts Treasurer Steve Grossman has directed the state pension fund to review any investments in gun companies in response to the killings last week of 20 children and six adults in a Connecticut elementary school.

Grossman stopped short of calling for divestment in gun companies. He said it's the duty of the $50 billion fund to maximize investment returns for retirees, but he will not ignore what he called the values of Massachusetts residents.

A spokeswoman says Connecticut Treasurer Denise Nappier also has ordered a review of the state's pension fund and the California State Teachers' Retirement system is reviewing its investments its gun holdings.

Private equity group Cerberus Capital Management said it will sell its controlling stake in Freedom Group International, which makes the weapons believed to have been used in Friday's killings.

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