According to the Chicago Tribune, the Chicago Teachers’ Pension Fund is working to back out of its investments related to what it calls military-style rifles. The reported value of these investments varies (as does the casino known as the stock market fluctuates). The holdings are somewhere between $125,000 and $260,000 in Sturm Ruger & Co. and Smith & Wesson Holding Corp.
The Teachers’ Retirement System of Illinois recently made a similar move to exit about $77,000 in holdings.
The Chicago Teachers’ Pension Fund announced on Tuesday that it plans to dump its minimal investments in companies that make military-style semi-automatic rifles following the Sandy Hook school shooting, an effort that started before Mayor Rahm Emanuel called on city pension funds to divest from such companies.
But by the end of the day, fund officials were unclear how many companies they were targeting, illustrating the tricky nature of such measures.
About $260,000 of the fund’s $9.5 billion in assets, or 0.003 percent, is invested in three “assault weapon manufacturers,” the pension fund board said in a news release.