State Treasurer Bill Lockyer is expanding his campaign to unload CalSTRS and CalPERS firearms investments following the Connecticut elementary school shooting.
Lockyer already has called on the California State Teachers' Retirement and the Public Employees' Retirement systems to divest their holdings in manufacturers of assault weapons banned in California, including the type used in Connecticut. Lockyer sits on the board of both funds.
Now he's pushing the funds to sell investments in makers of high-capacity (ammunition) magazines outlawed in the state. Such magazines hold dozens of bullets and have come under attack by Democrats in Congress.
An assault weapon with a high-capacity magazine reportedly was used in the Newtown, Conn., attack.
Lockyer expects to introduce a motion on magazines at today's board meeting of CalSTRS.
CalSTRS spokesman Mike Sicilia said he doesn't know whether the fund's investment portfolio includes the magazines.
As reported last month, CalSTRS invested $625 million in Cerberus Capital Management, owner of Freedom Group, whose Bushmaster subsidiary made the gun used in Connecticut. Cerberus is selling Freedom Group.
CalSTRS also holds a total of $2.9 million in gunmakers Sturm Ruger and Smith & Wesson, Sicilia said.
CalPERS spokesman Brad Pacheco said he didn't have information on the fund's firearms investments.
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