ESTIMATE: Tobacco Ban Cost CalPERS Over $3.6 Billion in Potential Gains

Posted on 12/19/2016

UPDATE: On December 19, 2016, the CalPERS investment committee, by a 9-3 vote, approved a motion to expand the ban on investing in tobacco-related stocks to more than US$ 500 million invested in externally managed funds. In addition, the committee decided to not vote on an investment staff resolution to reinvest money into tobacco-related stocks. […]

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