Pension Funds Under Pressure to Sell Off Investments in Gun-Makers

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Since the mass killing at a Parkland, Fla., high school earlier this month, many teachers have called on their state pension funds to sell their stakes in gun-makers, reports National Public Radio.  Private investment firms including BlackRock and Blackstone are reviewing their firearms investments in response to clients’ demands. “I’m currently urging my colleagues to divest in retail and wholesale suppliers of weapons that are banned for possession or sale in the state of California,” says State Treasurer John Chiang, who sits on the boards of his state’s two largest pension funds — CalPERS for public employees and CalSTRS for teachers.  “We can make a clear and powerful signal that the inaction by Congress is heartless, it’s intolerable, and there are people who want to make sure that kids aren’t losing their lives,” Chiang says.