BlackRock Puts Pressure on Gun Makers and Retailers

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  • 06 Mar 2018 12:00 AM
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BlackRock Puts Pressure on Gun Makers and Retailers

BlackRock, the world’s largest asset manager, has announced it will re-examine its holdings in both gun makers and gun retailers in the wake of the recent shooting in Parkland, Florida. The company is currently the largest shareholder in gun makers Sturm Ruger and American Outdoor Brand, and the second-largest shareholder in Visa Outdoor. In a statement, BlackRock said that it will start offering clients the option to invest in funds that exclude firearm manufacturers and retailers. It also said it will more actively engage with such companies, including asking gun makers how they deal with the reputational and legal risks associated with manufacturing civilian firearms, and if they monitor whether their products are used in crimes. It will ask retailers what proportion of their sales firearms and ammunition represent, and what steps they have taken to prevent the misuse of firearms that they sell.

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