California Teachers Fund To Review Firearms Holdings
Don't Miss This
- CHP Officers, Teacher Help Santa Deliver Presents To Boy Who Didn’t Get Visit Last Year
- Lawyer Allegedly Caught During Sexual Encounter With Jailed Inmate Fires Back
- Man Allegedly Sets Himself And Wife On Fire In Stockton
- Davis Teen Gets 52 Years To Life In Brutal Slaying Of Elderly Couple In Their Beds
- Caltrans May Pick Up The Tab For Your Car’s Pothole Damage
SACRAMENTO, Calif. (AP) — The nation’s largest teachers’ pension fund says it will review its holdings after being criticized for having an investment in the manufacturer of an assault rifle used in last week’s Connecticut school massacre.
California State Teachers’ Retirement System spokesman Michael Sicilia said Tuesday that the $155 billion pension system is making sure its investments comply with the fund’s own social and ethical standards.
The fund invested $600 million in the private equity firm Cerberus Capital Management, which owns gun maker Freedom Group International. Cerberus says it will sell its holdings in the manufacturer of the rifle used to kill 20 schoolchildren and six adults at a school in Newtown, Conn.
State Treasurer Bill Lockyer has asked CalSTRS and the state employees’ pension fund to reconsider any investments in firearm manufacturers.
Copyright 2012 The Associated Press.