Breaking News Bar
updated: 12/20/2012 7:14 PM

Illinois reviewing pensions for gun investments

hello
Success - Article sent! close
 
Associated Press

SPRINGFIELD -- Illinois public pension fund managers are reviewing their portfolios for investments in gun manufacturers after last week's Connecticut school shooting.

Illinois State Board of Investment Executive Director William Atwood says that agency's $12 billion portfolio includes about 84,000 shares worth $1.7 million in three gunmakers -- Olin, Sturm Ruger and Smith & Wesson.

Neither Atwood's agency nor the Teachers' Retirement System does business with Cerberus Capital Management.

Cerberus is the private-equity firm that announced this week it would sell the maker of the rifle used in the Connecticut school massacre that killed 26 people.

Spokesman Dave Urbanek says the teachers' system is reviewing its $37 billion portfolio for connections to other gunmakers as information for its trustees.

State law prohibits investing in business with Sudan and Iran.

Share this page
Comments ()
Guidelines: Keep it civil and on topic; no profanity, vulgarity, slurs or personal attacks. People who harass others or joke about tragedies will be blocked. If a comment violates these standards or our terms of service, click the X in the upper right corner of the comment box. To find our more, read our FAQ.