Gov. Noem: Investment review finds limited funds in China

By STEPHEN GROVES
Associated Press

SIOUX FALLS, S.D. (AP) — South Dakota Gov. Kristi Noem says a recent review of the state’s investment portfolio found the state did not hold any direct investments in China. But South Dakota has stakes in several emerging market funds that invest in the Asian economic power. The Republican governor is seen as a potential contender for the 2024 White House. She’s taken aim at China with recent orders. Earlier this month, she gave the state’s Investment Council a week to review its  $19 billion portfolio for ties to China. Noem says the state had previously divested from three Chinese companies, but has 1.3% of its portfolio invested in an emerging markets exchange-traded fund. That fund has one-third of its holdings in China.