Aussie sovereign wealth fund screens Chinese firms at risk of US bans

"We’ve gone through very, very carefully as many companies as we can to try and drop stocks," says Costello. — Bloomberg

SYDNEY: Australia’s sovereign wealth fund, the Future Fund, is screening its portfolio for Chinese companies at risk of US investment restrictions, its chairman says.

The Biden administration plans to ban investments in some Chinese technology firms and increase scrutiny of others, sources have said, as part of its plan to crack down on the billions that American firms have poured into sensitive Chinese sectors.