Nuveen exits Chinese companies hit by US investment ban

LONDON (Reuters) – Nuveen, TIAA’s $ 1.1 trillion asset management division, has sold Chinese companies affected by the recent US investment ban, he told Reuters in an email.

Nuveen had held positions in many of the blacklisted companies, including a 0.12% stake in China Telecom, 0.08% of 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 through the end of November 2020.

Reporting by Tom Arnold, editing by Karin Strohecker