Largest US Public Pension Fund Looks at Investing in China – Anuj Gangahar and Francesco Guerrera

From Financial Times:

The California Public Employees Retirement System, the largest US public pension fund, is considering investing for the first time in Chinese companies, aiming both to capitalise on the country’s booming economy and to raise its exposure to emerging markets.

Such a move by Calpers, which has not invested any of its $208bn portfolio in Chinese companies because of poor corporate governance standards, could have a ripple effect on other US public pension funds and increase demand for Chinese shares.

In an interview with the Financial Times, Russell Read, Calpers’ recently appointed chief investment officer, indicated that the fund could begin by investing in Chinese companies with US or international listings through American Depository Receipts and Global Depository Receipts.[Full Text]

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