In­vest­ment stubbed out

The Denver Post - - BUSINESS - The As­so­ci­ated Press

The Cal­i­for­nia Public Em­ploy­ees’ Re­tire­ment Sys­tem, the largest public pen­sion sys­tem in the U.S., is giv­ing up its last in­vest­ments in to­bacco-re­lated busi­nesses. The Calpers in­vest­ment com­mit­tee voted to sell its last $550 mil­lion in to­bacco- re­lated in­vest­ments. In 2000, it ap­proved a sell-off of to­bacco stocks that were man­aged by in-house ad­vis­ers, but al­lowed out­side man­agers to keep their in­vest­ments in those com­pa­nies.

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