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Strategies & Market Trends : World Outlook

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To: Saulamanca who wrote (23764)	5/13/2020 10:52:51 AM
From: Saulamanca	1 Recommendation Read Replies (1) of 49657

White House to block federal retirement fund from investing in China By Emily Jacobs May 12, 2020 Top White House officials are moving to ensure that the US has less money invested in Chinese equities as the Communist nation faces the steep fallout from the coronavirus pandemic. White House economic adviser Larry Kudlow and national security adviser Robert O’Brien penned a letter to Labor Secretary Eugene Scalia on Monday stating that the Thrift Savings Plan, a federal employee retirement fund, should not have any money invested in Chinese equities, according to Fox Business. The little-known $557 billion federal retirement program for government employees and military members currently invests about $4 billion in Chinese assets, the letter states. The letter argues that the Federal Retirement Thrift Investment Board is “departing from the Board’s established index for the International Stock Investment Fund (I Fund) to track one that maintains Chinese equities is risky and unjustified,” before directly linking China’s handling of the pandemic to why investment in the country is discouraged. Continued

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