Iran General NewsNo. 3 U.S. pension fund reviews Iran investments

No. 3 U.S. pension fund reviews Iran investments

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Reuters: Calstrs, the third-largest U.S. pension fund, said on Friday it is calling on 13 energy companies in its $171 billion investment portfolio to reconsider their investments in Iran. SAN FRANCISCO, June 8 (Reuters) – Calstrs, the third-largest U.S. pension fund, said on Friday it is calling on 13 energy companies in its $171 billion investment portfolio to reconsider their investments in Iran.

The California State Teachers’ Retirement System, best known as Calstrs, said in a statement its board has told staff to press the companies identified by the American Israel Public Affairs Committee over their business with Iran.

The pension fund said it estimates it has $1.4 billion invested in the companies.

“Calstrs has never and will never tolerate support of terrorism,” said Dana Dillon, chair of the fund’s board. “In the strongest words possible, we urge these businesses to consider the growing risk to their investment value by continuing their current activities.”

Among the companies are Eni , Gazprom , Indian Oil Corp. , INPEX Holdings Inc. <1605.T>, Petrobras , Repsol , Royal Dutch Shell Plc and Statoil .

Calpers, the California Public Employees’ Retirement System, has rejected calls to divest its holdings in foreign companies doing business in Iran. The sister fund to Calstrs and largest U.S. pension fund has historically resisted such calls.

California lawmakers are considering legislation urging the two pension funds to divest their holdings in companies with business in Iran.

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