Denise L. Nappier, state treasurer and principal fiduciary of Connecticut Retirement Plans & Trust Funds, Hartford, said the $34.2 billion pension fund may soon divest from gun companies in response to the high school shooting in Parkland, Fla.
"Should the proliferation of gun violence persist, and further compromise the safety of our young people, our communities and our long-term shareholder value, following a period of stepped up shareholder activism, I will proceed to divest or not make further investments in gun companies as the most prudent course of action," Ms. Nappier said in an emailed statement.
The pension fund currently has a total of $16.5 million invested in five gun manufacturing companies — CIE Financiere Richemont, Daicel Corp., Olin Corp., Orbital ATK and Vista Outdoor — equating to roughly 0.05% of the total portfolio.
Ms. Nappier did not provide a time frame for divestment.
