Analysis: Sovereign wealth, public pension giants caught up in U.S.-China tech fight
Some of the world’s biggest sovereign wealth funds and public pension funds are getting caught in the escalating tensions over technology between the United States and China, a Reuters analysis of their filings data and public disclosures show.
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They range from Norway and Singapore’s giant sovereign wealth funds to Switzerland’s central bank and the $1.1 trillion U.S. TIAA, founded over a century ago by Andrew Carnegie as the Teachers Insurance and Annuity Association of America.
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U.S. investors were banned from owning stakes in more than 40 Chinese firms viewed as having military links in a series of moves since November, as outgoing U.S. President Donald Trump sought to cement his hardline policy against Beijing.
That prompted TIAA unit Nuveen to sell stakes in blacklisted firms including China Telecom, China Mobile and China Unicom, as well as microchip giant SMIC, state oil firm CNOOC and phone and gadget maker Xiaomi.
Other U.S. public pension funds are expected to follow suit.
Read more @Reuters
