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CalPERS No Longer Investing in Two Gun Manufacturers

SACRAMENTO-

The nations largest public pension fund is taking a stand against gun violence.

CalPERS voted Tuesday to sell all its investments in two firearms makers: Smith & Wesson and Sturm Ruger.

“This is more of a symbolic move,” explained FOX40 Financial Advisor Keith Springer.  “CalPERS has a $254-billion dollar investment portfolio.  We’re talking about $5 million from the gun makers, so it’s not that big of a deal.”

And so far, the move hasn’t hurt gun makers either.

“They’re enjoying great success right now.  Guns and ammunition are flying off the shelves,” Springer said.