Watch ABC40 News Live!   (View)

Mass., Conn. Review Pension Fund Gun Holdings

gun and moneyHARTFORD, Conn. (AP) — The treasurers of Connecticut and Massachusetts are among those reviewing public pension investments in response to the fatal shootings of 20 children and six adults in a Connecticut elementary school.

Massachusetts Treasurer Steve Grossman said Wednesday he’s directed a review of investments in gun companies. He didn’t call for divestment. He said it’s the duty of the $50 billion fund to maximize returns for retirees, but he won’t ignore the values of Massachusetts residents.

Connecticut State Treasurer Denise Nappier also said in a statement she’s reviewing investments in gun-related businesses. She said she’s concerned that companies the pension fund invests in are considering public safety and “the well-being of our children.” She said good corporate citizens also “can sustain our shareholder value over the long haul.”

  • paulb62

    Another words if these companies do not do something about public safety the money invested with these companies will divested over a period of time.

  • dave629

    With arms sales going through the roof, divesting in the arms company stock sounds absurd, politically driven and politically correct. Also very foolish.