Man hand and word divestment Divesting from gun, oil, and other stocks 'hasn't made the world a better place,' Christopher Ailman, chief investment officer of CalSTRS, the second-largest U.S. pension fund said at the 2018 Milken Institute Global Conference. (Photo: Shutterstock)

(Bloomberg) –Managers of the California State Teachers' Retirement System and the New York State Common Retirement Fund said they oppose divesting from controversial companies because it doesn't change corporate behavior.

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