Since the mass shooting on MSU campus in February, students have demanded that Michigan lawmakers enact stricter gun control. To continue this fight, some students are now turning their attention to the university itself.
Students Demand Action MSU is leading this conversation. In January, its nationwide parent organization called on colleges and universities to divest from the gun industry.
“The gun industry rakes in $9 billion each year while our communities pay the price with our lives,” the organization wrote on social media. “Our colleges and universities shouldn’t support that.”
Now MSU’s investments are under scrutiny, including the university’s $205.4 million of investments in BlackRock funds.
According to MSU deputy spokesperson Dan Olsen, MSU has invested in five BlackRock funds: BlackRock Systematic China Absolute Return fund, BlackRock Strategic Fund, BlackRock Obsidian Fund, BlackRock Emerging Companies and BlackRock Multi-Alternative Opportunities.
BlackRock Inc. is the largest asset manager in the world and manages thousands of funds.
BlackRock Fund Advisors has stakes in leading firearm manufacturers: approximately 16% in Sturm Ruger & Company Inc., 7% in Smith & Wesson Brands Inc. and 15% in Vista Outdoor Inc.
BlackRock has faced criticism in the past for investments in firearms industries. After a mass shooting killed 17 people at Marjory Stoneman Douglas High School in Florida, BlackRock released a statement that said responsible policies were critical for manufacturers and retailers of civilian firearms. BlackRock wrote that it was engaging in discussions with civilian firearm manufacturers and that it did not have a say in where its investments in index funds went.
Despite this, BlackRock holds over $452.6 million worth of shares in these three companies, two of which are among the largest gun manufacturers in the U.S.
However, MSU funds do not contribute to these shares, as Olsen said that the BlackRock funds in which MSU invests do not own any part of gun manufacturing companies.
“Claims that MSU invests in gun manufacturers through its investments with these BlackRock funds are inaccurate,” Olsen said in an email. “Furthermore, we have no direct investments in gun manufacturers, and we don’t have direct or indirect investments in the three publicly traded civilian firearms manufacturers.”
For Students Demand Action MSU, this is not enough. Comparative cultures and politics junior Saylor Reinders, the organization’s president, said the university should not support the gun industry in any way.
“Guns are the leading cause of death for children and young people today, so it's very important that we are not supporting that in any way,” Reinders said. “And so I think that it would be wise for MSU to consider removing (BlackRock) investments.”
Though the organization has not yet taken action, Reinders said the group is currently conducting research and will likely form a campaign once it's done further planning. The campaign will likely call on the university to create a clause or pledge to not invest in the gun industry in the future.
ReclaimMSU, a group advocating for university transparency, also told The State News that it would like to see MSU publicly commit to not make any direct or indirect investments in the firearms industry in the future.
Reinders said Students Demand Action MSU has been considering calling on the university to make this commitment for some time. However, after three students died and thousands of others were traumatized on Feb. 13, the issue became more pertinent and time-sensitive, Reinders said.
“Students Demand Action has been at Michigan State for two years now, and we've always been pushing to end gun violence,” Reinders said. “But when it happens on your campus, I think especially, it's traumatizing and especially a reason for Michigan State to not have any investments that go towards the gun industry, or invest in people who are the biggest investors with the gun industry.”
