Chicago Mayor’s Plan Backfires, Mutual Funds Invest In Gun Companies Anyway

 

 

” A few weeks ago Chicago Mayor Rahm Emanuel wrote letters to several mutual funds asking them to pressure gun companies into embracing newly proposed gun laws, and as it turns out the political pressure hasn’t persuaded the investors to alter their portfolios.

A handful of the mutual funds contacted by Emanuel — Allianz, BlackRock, Vanguard, and Capital World Investments — submitted those forms and reported last week that they would retain ownership of Smith & Wesson and Sturm, Ruger and Company.

According to the documents filed:

Allianz reportedly owns 7.1 percent of Ruger Capital

World Investments owns 6.5 percent of Ruger

Vanguard reportedly owns 7.14 percent of Ruger, and 7.46 percent of Smith & Wesson

BlackRock reportedly owns 7.5 percent of Ruger, and 5.31 percent of Smith & Wesson”