Fact check: Is Abbott investing Texas taxpayer money in Chinese companies, as Huffines claims?
In March 2021, the Pensions & Investments trade publicationthat the Texas County & District Retirement System committed $40 million to a Beijing-based manager to be split between two China-focused private equity/venture capital funds. The two funds focus on early-stage and growth-stage Chinese technology companies.
"It seems extremely unlikely that Governor Abbott is personally directing any of the investment choices of the various Texas state and local pension funds. Extremely unlikely," said economics professor Dennis Jansen, director of the Private Enterprise Research Center at Texas A&M University. Anyone investing in a passive world index fund, such as Vanguard’s Total International Stock fund, is investing partly in China, or in many international funds, Jansen added.
"It is not as if China is a small part of the global economy. Having appropriate diversification across industries and countries is well-established investment advice," he said.
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