Economy & Business

BlackRock to Introduce Funds that Exclude Gun Makers and Retailers

The company logo and trading information for BlackRock is displayed on a screen on the floor of the New York Stock Exchange (Brendan McDermid/Reuters)

Top asset manager BlackRock announced Thursday it will offer new products tailored specifically to clients who want to avoid investing in gun manufacturers and retailers, in response to increasing public pressure on corporations to distance themselves from the industry.

BlackRock, the world’s largest asset manager, will offer two new exchange funds, as well as a number of index funds for pensions and employee-retirement plans, which will not invest in gun manufacturers and large gun-retailer stocks.

The firm said it developed the products — which will exclude companies like Walmart, Dick’s Sporting Goods, Ruger, and others — in response to client interest.

In a note to clients, obtained by CNBC, BlackRock said the funds are being offered “to provide more choice for clients seeking to exclude firearms companies from their portfolios.”

Gun retailers like Walmart and Dick’s Sporting’s Goods have already responded to the wave of demonstrations and public sentiment in favor of gun control by raising the minimum age for gun purchases from 18 to 21.

Citigroup became the first large U.S. financial institution to take action by requiring that its clients that manufacture and sell guns implement a minimum purchase age of 21, among other restrictions.

BlackRock, which controls more than $5 trillion in pension and endowment assets, told clients that it would take action last month in the wake of the Parkland mass shooting that claimed 17 lives. The company said it felt an obligation to lead the way considering its position as one of the largest institutional investors in gun manufacturer Ruger and American Outdoor Brands.

Most Popular


It’s Time for Colin Kaepernick to Move On

Colin Kaepernick. Remember him? Below-average quarterback. Above-average poseur. Not “activist,” not really. Activists actually say stuff. Kaepernick almost never says anything. He’s like the Queen or most popes — you have to read the deep-background musings of supposed members of his inner circle to get ... Read More

What The 1619 Project Leaves Out

“The goal of The 1619 Project, a major initiative from The New York Times that this issue of the magazine inaugurates, is to reframe American history by considering what it would mean to regard 1619 as our nation’s birth year,” The New York Times Magazine editors declare. “Doing so requires us to place ... Read More

Trump and the Black Vote

"Donald Trump is a racist, white supremacist, white nationalist. So are his supporters." Some version of that refrain is heard almost hourly somewhere in mainstream media. Democratic politicians seem to proclaim it more often than that. Listening only to the Left, you'd conclude that more than half a ... Read More
PC Culture

Courage Is the Cure for Political Correctness

This might come as some surprise to observers of our campus culture wars, but there was a time, not long ago, when the situation in American higher education was much worse. There a wave of vicious campus activism aimed at silencing heterodox speakers, and it was typically empowered by a comprehensive regime of ... Read More

The Age of Miscalculation

On August 7, 1998, more than 200 people were killed in terrorist attacks on U.S. embassies in Dar es Salaam, Tanzania, and Nairobi, Kenya. Americans learned three names most of them never had heard before: Ayman al-Zawahiri, Osama bin Laden, and al-Qaeda. On August 20, 1998, President Bill Clinton ordered a ... Read More