This mutual fund is now the largest owner of one of largest gun companies in U.S.

Mass shootings and the growing wave of socially responsible investing doesn't seem to be influencing behavior at one of the nation's largest mutual fund companies. In the past few months, American Funds' Smallcap World Fund, which is managed by investing giant Capital Group, has spent at least $17.3 million buying up shares of one of the nation's largest gun manufacturers. The investment, 2.1 million shares as of the end of June, has made the SmallCap World Fund the largest single investor in American Outdoor Brands, which up until 2017 was known as Smith & Wesson.

SmallCap World Fund, which has $45 billion in assets, bought the shares sometime in the second quarter. That was before the mass shootings in the past week in El Paso and Dayton, which have raised new concerns about the epidemic of gun violence in America, but after the shootings in Parkland, Las Vegas and elsewhere. Nearly 15,000 Americans died last year from firearms, according to the website Gun Violence Archive, and so far this year the number of mass shootings across the U.S. has outpaced the number of days in 2019 to date. Read Full Article - CBS News, August 8, 2019