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Nuveen Exits China Companies Affected by U.S. Investment Ban

LONDON (Reuters) - Nuveen, the $1.1 trillion asset management arm of TIAA, has sold out of the Chinese companies affected by the recent ban on U.S. investment, it said in an email to Reuters.

Nuveen had held positions in several of the blacklisted companies, including a 0.12% holding in China Telecom, 0.08% stake in SMIC, 0.07% each in Xiaomi Corp and CNOOC, 0.04% of China Mobile and 0.02% of China Unicom Hong Kong, according to Refinitiv data up to the end of November 2020.

Reporting by Tom Arnold, editing by Karin Strohecker

Source: Reuters

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