Florida workers' pension fund invested in gun manufacturers
Feb. 21, 2018
TALAHASSEE, Fla. (AP) — Florida's main pension fund for state workers and teachers has a half-million-dollar stake in the company that makes the rifle used in the shooting at Marjory Stoneman Douglas High School.
The Florida Retirement System had more than 41,000 shares in American Outdoor Brands Co. with a market value of $528,000, according to a Dec. 31 securities filing posted on its website. American Outdoor Brands is the Massachusetts-based parent company of Smith & Wesson.
Federal law enforcement officials say Nikolas Cruz used a Smith & Wesson M&P 15 rifle to kill 17 people at the school in Parkland on Feb. 14.
The pension fund also invested in gunmaker Sturm & Ruger and companies that make ammunition. The investments are a small fraction of the overall portfolio.
Florida Education Association President Joanne McCall Statement says she was sickened to learn about the investment, adding that school employees have no say in the matter.