Vanguard says social concerns will not affect gunmaker holdings

Reuters Middle East

Dec 18 (Reuters) - Money manager Vanguard Group Inc, the

largest owner of gunmaker Smith & Wesson Holding Corp,

said on Tuesday it cannot operate its big index funds to meet

what it called the "social concerns" of all shareholders.

Vanguard of Pennsylvania said in a statement it is "deeply

saddened by the tragedy in Connecticut" but said most of its

shares in Smith & Wesson and rival Sturm Ruger & Co are

held in index funds that are required to track their indexes.

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