City's Teachers' Retirement System Ends Gun Portfolio Ties
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The city's Teachers' Retirement System will no longer be investing in companies that have ties to the gun industry.
The Sandy Hook Elementary School shooting in Newtown, Connecticut and other gun violence across the country prompted the TRS Board of Trustees to go over its investment portfolio.
Money managers divested in five companies that either supply ammunition or guns, including Smith and Wesson Holding Corporation and Sturm, Ruger and Company.
The school-teacher pension fund is worth $46 billion and is the nation's largest to divest in the gun industry since the Newtown shootings.