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BlackRock to offer opportunity to invest in funds that exclude gun manufacturers & retailers
Author: Tom Barnes, Independent (UK), Published on: 4 March 2018
"BlackRock: Investment giant threatens to pull funds from gunmakers after Florida high school shooting," 3 March 2018
BlackRock, the world’s largest money manager, will offer its clients the ability to opt out of investing in gun manufacturers in the wake of the deadly Florida high school shooting. The firm, which manages close to $6 trillion (£4.3 trillion) in assets, said on Friday the attack had “driven home the terrible toll from gun violence in America”. "We believe that this event requires response and action from a wide range of entities across both the public and private sectors,” it added in a statement.
The fund manager has posed a series of safety-related questions to firearms producers and threatened to vote against directors at firms it holds a major stake in to enforce change if needed. BlackRock said its clients will also be offered the opportunity to avoid investing in gun makers... Despite BlackRock’s overtures, it has stopped short of saying it will commit to an outright ban on investment in gun manufacturers.
Related companies: BlackRock