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Stock Market & Financial Investment News

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April 12, 2013
18:23 EDTSWHC, RGRCalSTRS divests of certain firearms holdings
The California State Teachersí Retirement System investment committee approved the fundís divestment from firearms companies that manufacture weapons that are illegal in California. On January 9, the CalSTRS investment committee directed staff to begin the divestment process with the two publicly traded U.S. companies within the CalSTRS portfolio that manufacture these products, Sturm Ruger (RGR) and Smith & Wesson (SWHC). As of December 31, 2012, the total market value of CalSTRS holdings in Sturm Ruger and Smith & Wesson was approximately $3M, which represented 0.3 basis points of the Global Equity portfolio. Today, CalSTRS CIO, Christopher Ailman, recommended divestment in accordance with the CalSTRS 21 risk factors. Staff determined that they can achieve a portfolio of equal risk and return without including these two particular investments.
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