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posted: 1/16/2013 5:43 PM

Chicago pension fund might drop weapons holdings

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Associated Press

SPRINGFIELD -- The Chicago Teachers' Pension Fund board plans to vote tomorrow on whether to divest itself of holdings in firearms manufacturers.

Investments Director Carmen Heredia-Lopez said the fund's $9.5 billion portfolio includes about $146,000 invested in Sturm Ruger & Co. and Smith & Wesson Holding Corp.

The Teachers' Retirement System of Illinois, which covers teachers outside Chicago, conducted a similar review that shows $77,000 invested in three gun makers out of a $38 billion portfolio.

Spokesman Dave Urbanek said TRS will provide the data to board members as information and not with a staff recommendation.

The California teachers' retirement fund voted to cut off gun-company investments after 20 schoolchildren were killed in a mass shooting in Connecticut last month.

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