HARTFORD — State officials have invested more than $16 million in companies that manufacturer guns and ammunition — including a firm that produces an AR-15 style assault weapon similar to the one used to slaughter students in Florida.

The investment in gun companies represents only .05 percent of the overall $30 billion Connecticut Retirement Plans and Trust Fund, which funds pensions for teachers and other state workers.

But it’s raising eyebrows considering Connecticut banned assault weapons and adopted strict gun control measures after the 2012 massacre at Sandy Hook Elementary School in Newtown.

"I think people will be surprised that we are invested in these companies, given the fact that we have been a leader in gun safety legislation," said state Sen. Gayle Slossberg, D-Milford.

The investments came to light after Slossberg wrote a letter to State Treasurer Denise Nappier asking if the state pension fund was invested in gun manufacturers. The letter was sent in the aftermath of the Parkland, Florida shooting that left 17 people dead at a high school.

"I expected she would have divested," Slossberg said, referring to ending investments in gun companies. "That’s clearly not what happened."

Nappier’s response listed pension investments in five companies that make guns or ammunition, with a total investment of $16.5 million. The state invested $4.04 million in Vista Outdoor, which makes an AR-15 style assault weapon under the name of Savage Arms, based in Westfield, Massachusetts.

A subsidiary of another company, the Olin Corporation, makes the Winchester brand rifle, ammunition and other products. The pension fund has invested $915,255 in the company.

Photo: Contributed Photo / Contributed Photo

Other companies receiving pension fund investments include CIE Financiere Richemont SA; a $7.19 million investment; Daicel Corp., $1.65 million; and Orbital ATK Inc., $784,437.

A Canadian store, Mountain Equipment Co-op, this week announced it would no longer carry brands made by Vista Outdoor. Dick’s Sporting Goods also said it would stop selling AR-15 style weapons and Walmart said it would raise the minimum age to buy guns to 21.

“Divest or not”

Nappier said the state, as an investor, can use it’s sway with the a gun company’s board of directors to push the firm to responsibly manufacture, market and sell their products.

"So many of us in Connecticut and beyond have seen firsthand the destruction wrought by assault rifles and the wave of gun violence that has plagued our schools and communities across the nation," Nappier said in a statement.

"It is high time to prevent access to dangerous weapons and ammunition by those who would misuse them," she added.

But Nappier stopped short of saying she would immediately divest the pension fund from gun companies. Instead, she offered only a vague commitment to pull the money.

"Should the proliferation of gun violence persist, and further compromise the safety of our young people, our communities and our long-term shareholder value, following a period of stepped up shareholder activism I will proceed to divest or not make further investments in gun companies as the most prudent course of action," Nappier said.

Connecticut’s investment in gun companies is not new. In 1990, the state used $25 million from the public employees’ pension fund to help save Colt Firearms in Hartford and transform it into the version now known as Colt Manufacturing. Colt was a pioneer in the development of the AR-15 rifle.

Just say no

Sheila Cohen, president of the Connecticut Education Association, said the state should not be investing in gun manufacturers, especially considering the Sandy Hook tragedy that left 20 young school children and six adults dead.

"It makes sense for the state to invest its pension funds in companies that do not contribute to violence in our communities and do not manufacture semi-automatic rifles or high-capacity magazines for pistols or rifles," Cohen said.

Slossberg said she plans to talk with Nappier about the investments, adding she may try to introduce legislation to force the state to divest even though the deadline to introduce bills has passed.

"Our state has enacted the strongest gun safety legislation in the country," Slossberg said. "We should not now or in the future be investing public dollars in the manufacture of guns that are being sold to children to kill children."

Slossberg said when she asked Nappier about gun company investments she expected there would not be any.

"We have to have a conversation about it," Slossberg said. "Is it better to divest or should we be at the table with these companies."