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''' TECH* - ''US -
CHINA''- FIGHT '''
US-CHINA TECH FIGHT : SOVEREIGN WEALTH - PUBLIC PENSION giants caught up totally and begin getting submerged, to what implications and ramifications?.
NORWAY'S 1.3 TRILLION SWF - THE WORLD'S LARGEST has 0.2% - 0.6% stakes in China Telecom, China Mobile, Xiaomi, Xiaomi, CNOOC and China Unicom Hong Kong as part of broader $35 billion of Chinese equity portfolio according to most recent disclosures running up until the start of 2020.
Singapore's GIC, a self-described ''independent state investor'', has 10% stake in China Telecom's Hong Kong-listed 'H' shares and holds roughly 1.4% of SMIC in mainland China A- and H- shares, Reuters calculations based on stock exchange filings show, GIC declined to comment.
Other holders are Canadian pension funds Caisse de Dept et Placement du Wuebec [CDPQ], British Columbia Investment Management, CPP Investment Board, Netherlands-based independent pension fund PGGM Vermogensbeheer and APG Asset Management.
LONDON : SOME OF THE WORLD'S BIGGEST SOVEREIGN wealth funds and public pension are getting caught in the escalating tensions over technology between the United States and China, a Reuters analysis of their filings data and public disclosure show.
They range from Norway and Singapore's giant sovereign wealth funds to Switzerland's central bank and the $1.1 trillion US TIAA, founded over a century ago by Andrew Carnegie as the Teachers Insurance and Annuity Association of America.
US 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 US 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 US public pension funds are expected to follow suit.
CalPERS, the largest such fund, held Hong Kong-listed 'H' shares in several firms, including a 1.1% stake in China Telecom and 0.2% apiece of both China Mobile, and China Unicorn, according to Refinitive data.
CalPERS, which has been criticized by Republican party politicians for its China investments, did not respond to a request for comment.
The Florida State Board of Administration, which managed $200 billion of assets and had small stakes in China Telecom, China Mobile and Xiaomi, according to Refinitiv data, told Reuters it would be adhering to the bans.
''The sanctions really bite for US institutions,'' said Elliot Hertocv, head of policy research at State Street Global Advisors And the ripples aren't being felt in the United States.
A number of sovereign wealth funds [SWFs] have been affected as the New York Stock Exchange and index providers MSCI, S&P Dow Jones and FTSE Russell have ejected blacklisted firms from benchmarks, causing some stock prices to drop more than 20%.
While China's growing weight in global markets is encouraging sovereign funds to hold larger Chinese portfolios, the bans and recent claims of Cyber espionage over 5G firm Huawei and social media dance craze app Tik Tok show how technology is now a key geopolitical battleground.
With no indication yet of new US President Joe Biden's approach, China Telecom, China Mobile. Xiaomi and CNOOC 's shares have dropped between 12% and 22% since being black listed in November or this month, SMIC has bucked the trend with a double-digit gain.
''We view our investments in China - an important country in the global economy - with a long term perspective,'' CDPQ told Reuters.
The Honour and Serving of the Latest Global Operational Research on The World in Perspective, continues. The World Students Society thanks Reuters.
With respectful dedication to the Leaders, Parents, Students, Professors and Teachers of the World. See Ya all prepare and register for Great Global Elections on The World Students Society : wssciw.blogspot.com and Twitter - !E-WOW! - The Ecosystem 2011 :
''' Giants - Govern '''
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