They have a fiduciary duty, after all . . .

The decision to remain invested came after California State Treasurer John Chiang pressured the fund to “the power of its purse strings…[to] deny weapons of mass carnage to another killer stalking our innocent loved ones.” The fund will hire two employees to work with “assault weapon” retailers with the understanding that divestment will be reconsidered if “acceptable” changes in retail methods are not secured.

CalSTRS Investment Committee Chair Harry Keiley spoke to the approach, saying, “Unlike other CalSTRS engagements, where our staff practices quiet diplomacy, this plan advances a more public approach, to leverage the public pressure that has been mounting in this country in response to recent tragic gun violence. We encourage other institutional investors to consider conducting similar activities.”