A consumer group has sent letters to multiple governors warning them about their states’ pension funds relying on an investment corporation with strong ties to China.
Consumer’s Research distributed a report to the top 10 states whose pension funds are invested in BlackRock , a multinational money management firm. It is the first foreign-owned company to receive a license to operate in China’s $3.5 trillion mutual fund industry, Forbes reported .
“The warning is meant to raise awareness among American consumers that BlackRock is taking their money and betting on China,” William Hild, executive director of Consumer’s Research, wrote a in […]
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