October 22, 2019 / 5:09 PM / 20 days ago

U.S. senators say federal retirement fund will funnel money to China by tracking MSCI index

(Reuters) - A bipartisan group of U.S. senators on Tuesday asked a federal retirement fund to reverse a decision to track a popular index provided by MSCI Inc (MSCI.N), saying to not do so would lead to U.S. pension savings being funneled to companies controlled by the Chinese government.

The request comes amid heightened U.S. trade tensions and is the latest effort by Senators Marco Rubio, a Republican, and Jeanne Shaheen, a Democrat, to stem U.S. investment in specific Chinese companies. It also comes as the U.S. government considers limiting the flow of U.S. capital to Chinese companies due to growing security concerns about their activities, Reuters has reported.

Reporting by John McCrank; Editing by Chizu Nomiyama

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