A few weeks ago NYC Comptroller Scott Stringer made a big deal about getting the City Employees Retirement Fund to dump stocks from firearm retailers.
“After earning only 1.5% on its pension funds for the 2017 fiscal year ended June 30, the city will have to contribute an additional $732 million to the plans over the next three fiscal years … This is the second consecutive year that the city has fallen well short of its investment return target …”
That is what happens when you make investment decisions based upon politics and divest from an industry which has been on a roll.