Massive pension fund pulls money from gunmakers
New York City's teacher pension fund has actually pulled its cash from publicly traded firearms manufacturers, becoming the largest U.S. public pension fund to do so in response to the school shootings in Connecticut, the city's top monetary officer said. The $46. 6 billion fund divested all its holdings in 5 business, for investments valued at $13. 5 million as of January 26, a spokesman for New York City Comptroller John Liu said on Friday. Some investors, including the nation 's greatest public pension funds, started reviewing their firearms holdings after 20 kids and 6 grownups were shot dead at an elementary school in Newtown, Conn. , in December. "There is no need to support these companies, whose products can destroy lives and shatter communities in the blink of an eye," Liu said in a declaration.
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New York City pension fund U.S. public pension public pension fund largest U.S. teacher pension fund publicly traded firearms Comptroller John Liu Alliant Techsystems Inc. Forjas Taurus SA York City fund gunmaker Freedom Group Wesson Holding Corp. firm Cerberus Capital California State Teachers school shootings firearms holdings shatter communities financial officer Olin Corp. elementary school investment portfolio semi-automatic rifle companies spokesman Ruger Sturm Reuters Newtown blink massacre money manufacturers response Connecticut guns Friday nation funds children adults Conn. investments need products lives eye statement business firmsPeople:
John Liu
Overall Sentiment: -0.150608
Relevance: 0.516208
| Sentiment | Quote |
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| -0.137429 | "There is no need to support these companies, whose products can destroy lives and shatter communities in the blink of an eye," Liu said ... |
| -0.165711 | "There is no need to support these companies, whose products can destroy lives and shatter communities in the blink of an eye," Liu said in a statement. "Our investment portfolio gains nothing by doing business with these firms." |
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Disambiguation: Politician | OfficeHolderReferences:
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City: New York City
Overall Sentiment: 0.053177
Relevance: 0.839281
Disambiguation: PoliticalDistrict | GovernmentalJurisdiction | PlaceWithNeighborhoods | WineRegion | FilmScreeningVenueReferences:
City: Newtown
Overall Sentiment: -0.374873
Relevance: 0.302507
Country: U.S.
Overall Sentiment: 0
Relevance: 0.39194
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Company: Alliant Techsystems Inc.
Overall Sentiment: 0.0425409
Relevance: 0.331606
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Company: Cerberus Capital Management
Overall Sentiment: -0.0745488
Relevance: 0.31966
Company: Reuters
Overall Sentiment: 0
Relevance: 0.30314
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Massive pension fund pulls money from gunmakers
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New York City's teacher pension fund has pulled its money out of publicly traded firearms manufacturers, becoming the largest U.S. public pension fund to do so in response to the school shootings in Connecticut.
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