United States based investment advisor Vanguard Group has sold stakes it held in Chinese companies blacklisted by the government of United States. Trump’s administration prohibited Americans from investing or dealing with some Chinese companies which it claimed have links with China’s military.
The top mutual fund said the sell of its stakes in involved companies was a measure of complying with issued government directive.
In a public statement, Vanguard claims to have sold its entire stakes in Chinese companies which featured on a U.S government published list on November 12.
Fellow U.S based asset manager BlackRock said it had exited Chinese securities citing the ban by United States government. Several index providers including S&P Dow Jones, MSCI Inc. (MSCI) and FTSE Russell have also dropped blacklisted Chinese companies from their platforms.