Gov. Ron DeSantis moves to decouple Sunshine State pension funds and Chinese Communists
By James Varney - The Washington Times - Updated: 4:05 p.m. on Tuesday, December 21, 2021
Florida Gov. Ron DeSantis and some of his administration’s top officials moved Monday to take control of the state’s huge pension portfolio from private asset managers that invest heavily in communist China.
At a meeting of the State Board of Administration, Florida Chief Financial Officer Jimmy Patronis and Attorney General Ashley Moody joined Mr. DeSantis, a Republican, in a motion to “revoke all proxy voting authority that has been given to outside fund managers.”
The state officials said they need to ensure that fund managers “act solely in the financial interest of the state’s funds.”
The measure also orders a survey of the Florida Retirement System’s investments “to determine how many assets the state has in Chinese companies.”
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