Danish pension fund cuts China exposure
PFA, Denmark’s largest commercial pension fund, has exited two Chinese clothing manufacturers and is discussing how to handle its other China holdings amid an evolving risk environment, reports Bloomberg.
The Copenhagen-based fund, which manages about $100 billion in assets, has sold out of Anta Sports and Li Ning, Rasmus Bessing, chief operating officer at PFA Asset Management, said in an interview. The holdings were worth around $4.2 million, he said.
“We see China and the political development and believe that there is an increased political risk associated with Chinese companies,” Bessing said. PFA hasn’t acted “solely due to political reasons,” but such considerations are “an increasing concern,” he said.
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