BlackRock Inc (NYSE:BLK) and MSCI Inc (NYSE:MSCI) found themselves on the hot seat on Tuesday, under scrutiny from a U.S. Congressional committee.
The committee is investigating BlackRock and MSCI for allegedly middle-manning investments to Chinese companies that have been accused of human rights violations or aiding China’s military, the Wall Street Journal reported.
The House Select Committee on the Chinese Communist Party is checking to see how American funds are channeled into Chinese ventures, potentially propping up some less-than-savory actors on the global stage
BlackRock, the world’s largest asset manager with over $9 trillion in managed assets, is in the spotlight for investing over $429 million in controversial Chinese companies across five funds with the help of MSCI — the influential stock-market-index compiler — which crafted investment portfolios filled with Chinese stocks.
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Source: https://markets.businessinsider.com/news/etf/massive-flows-of-american-capital-into-china-put-blackrock-msci-in-congressional-crosshairs-1032501771?op=1
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