Asset manager Nuveen exits sanctions-hit Chinese firms

Nuveen, the $1.1 trillion asset management arm of TIAA, has sold out of its holdings in the Chinese companies that will be barred to U.S. investors by recent sanctions, it said in an email to Reuters.

The disposals come as U.S. investors scramble to exit stocks subject to the sanctions, which ban Americans from owning companies deemed to have links with China’s military.

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