In Financial Times, RWR CEO, Roger Robinson, Addresses Significance of White House Decision to Exclude Risky Chinese Entities from Federal Retirement Portfolio
As reported by the Financial Times on Tuesday, May 12, U.S. President Donald Trump has ordered the federal government’s $600 billion pension fund, the Thrift Savings Plan, not to invest its portfolio in Chinese companies. The news came alongside two letters made publicly available from National Security Advisor Robert O’Brien and the President’s chief economic advisor, Larry Kudlow, that laid out the Administration’s view that certain Chinese companies included in the MSCI All Country World Ex U.S. Investable Market Index were exposed to fiduciary, national security and human rights related risk factors.
RWR’s CEO, Roger Robinson, noted, “The TSP decision is of historic importance because of its vast knock-on effects for the US and global capital markets vis-à-vis China…The White House letter ending this Thrift Savings Plan debacle clearly implicates the broader issues of US-sanctioned and other Chinese corporate bad actors in our capital markets and China’s non-compliance with federal securities laws.”