FRESNO, Calif. (KMJ) — CalPERS, the nation’s largest pension fund, is being urged to sell off all of its investments in tobacco companies.
State Treasurer John Chiang believes holding tobacco-related stocks is bad economic decision.
Chiang first voted to divest from such securities, eight years ago.
However, the system’s external managers still have about $547 million in related funds.
The smaller CalSTRS has already divested from controversial tobacco stocks.
