Florida Pension Fund Will Keep Gun Investments but Urge Manufacturers to Act Responsibly

Gun Rights

Florida has joined a coalition of major pension funds and investment companies that have adopted a set of principles aimed at encouraging gun manufacturers and retailers to act responsibly. Ash Williams, executive director of the State Board of Administration, which oversees the state pension fund and other investments, said the agreement carries no mandates for gun-related companies. But he said it is designed to raise awareness of issues that could impact the value of investments in the firearms industry. “We’re not telling anybody, any private company, exactly what they should be doing. Our concern is motivated very simply by one thing, as fiduciaries anything that poses a risk to the value of the assets that we own on behalf of our beneficiaries, we want to make sure we’re managing it properly,” Williams said in an interview with The News Service of Florida. “By extension, if there is a risk or peril to the stock value of a company that we own in our portfolio, we want to make sure that company is, A, aware of it and, B, attentive to it. That’s all this is,” he said. In signing the “Principles for a Responsible Civilian Firearms Industry” last month, Florida joined more than a dozen public pension funds and investment companies that have adopted the document. “We believe that enterprises involved in the manufacturing, distribution, sale and enforcement of regulations of the firearms industry are well-positioned to support pragmatic transparency and safety measures that contribute to the responsible use […]

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