Mass. Treasurer Orders Review of Pension Ties to Gun Stocks

Wednesday, 19 Dec 2012 11:36 AM

By Greg McDonald

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Massachusetts Treasurer Steve Grossman has directed officials overseeing the state's $50 billion  pension fund to review its portfolio for investments that might be connected to the gun industry.
 
The Boston Globe reported today that Grossman "stopped short of calling for divestment in gun companies, saying it was the pension fund's duty to maximize investment returns for retirees."
 
But the newspaper quoted him as saying, "You can never leave out of that discussion how you are responsive to the values of the people of Massachusetts."
 
The order from the state treasurer came as teachers and police pension fund members across the country their fund managers to review investments as well in the wake of the Newtown, Conn., incident that left 20 elementary school children dead.
 
According to the Globe, investors have already reacted strongly to the Newtown tragedy, selling off stocks connected to gun makers and gun retailers.

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