Chicago Policemen's Annuity fund restricts gun investments
By Christine Williamson | February 1, 2013 12:03 pm
Chicago Policemen's Annuity & Benefit Fund trustees on Thursday approved investment restrictions on ownership of stock of assault weapons manufacturers within the $3.04 billion pension fund during a board meeting.
Investment managers for the policemen's fund should “should refrain from purchasing or holding securities of an assault weapons manufacturer if the investment manager determines that the same investment goals concerning risk, return and diversification can be achieved through the purchase or holding of another security,” according to a copy of the new investment policy provided by Samuel Kunz, chief investment officer, in an e-mail.
The restrictions on assault weapons manufacturers will expire on Jan. 1, 2015, unless extended by the board.