The US $ 184 billion pension fund has reduced Chinas stock allocation halfway

The US $ 184 billion (S $ 261.538 billion) pension fund manager of Public Education employees in the United States is halving the target allocation of Chinese stocks, and within a few months may decrease the billions of dollars of billions of dollars.Such holdings.

According to Bloomberg, the proposal passed at a meeting in mid -September shows that Texas Teachers' Retirement System (TRS) is turning to a tailor -made emerging market stocks to reduce ChinaThe proportion of the MSCI emerging market index is too high.TRS has previously relied on this index.This will effectively reduce China's long -term target weight in its investment portfolio to about 1.5%, similar to Taiwan's weight or even smaller weights.

According to a document submitted to the meeting, the new benchmark came into effect on September 19.TRS is committed to maintaining 9%target allocation of emerging market stocks.

In the video of the conference on the pension fund website, Katy Hoffman, the staff member of the investment management department, said that the change was to improve the diversity of the benchmark.There is a six -month transition period to adjust its current investment portfolio accordingly to reduce the negative impact on prices.

According to its website, TRS is the largest public retirement system in Texas, ranking 25th in the world.TRS did not indicate whether the changes in China's configuration stemmed from the recent poor performance of the Chinese stock market or for political considerations.

According to another document submitted to the TRS conference, China ’s weight in the MSCI emerging market index is 35.4%, which is more than twice as many as 14.5%in Taiwan’ s second largest market.Under the new benchmark, China's weight will drop to 17.7%, slightly lower than Taiwan's 18.5%.

According to a financial report, as of the end of June, TRS held an emerging market stock worth nearly $ 14.8 billion, accounting for 8%of its total investment in its investment.It does not specifically explain how many of them are stored in Chinese stocks.