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NYS Divests $86m From Companies Tied to Iran, Sudan

Wednesday, July 01, 2009

One of the largest institutional investors in the US, the New York State pension fund, says it's pulling $86 million out of companies doing business in Iran and Sudan. State Comptroller Thomas DiNapoli manages the pension fund, which represents the retirement savings of more than a million state and municipal workers.

DINAPOLI: they don't want us investing their future in excessively risky markets. and they shouldn't have their pension fund dollars jeopardize by regimes that support genocide and terrorism.

REPORTER: The move marks the first time the state's pension fund has divested from companies for "moral" reasons. The pension fund is pulling out of nine companies, including state-run Russian oil company Gazprom and Chinese state-owned oil company Sinopec.

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