Published Online: February 15, 2013

NYC teachers' pension fund divests from gun makers

NEW YORK (AP) — The pension fund for New York City teachers has sold its stock in companies that make guns and ammunition. City Comptroller John Liu says it's the largest pension fund in the U.S. so far to do this since the Connecticut school shooting in December.

Teachers union head Michael Mulgrew said Friday that selling the stock was "the right thing to do."

Pension funds across the country are making similar reviews of gun-industry holdings after a gunman shot dead 20 young children.

New York's $46.6 billion fund had a total of $13.5 million invested in five gun makers. Those included Smith & Wesson Holding Corp. and Sturm, Ruger & Co.

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