Managing money on behalf of others comes with a duty to put their interests first. Taxpayers, public employees counting on their pensions, and families saving for their children’s education all deserve sound investment management. As State Treasurer, I take that duty seriously.

Our office’s investment policy is built around five objectives: legality, safety, liquidity, yield and supporting economic development in Missouri. In simple terms, investments must follow the law, protect public money, remain available when needed, earn reasonable returns and help strengthen our state’s economy.

Sound investment decisions require careful consideration of both opportunities and risks. That principle guides my approach to managing Missouri’s investments.

It is also why I have raised concerns about investing in China.

These concerns cross party lines. Republicans and Democrats alike have recognized the economic and national security challenges posed by China. Protecting American investments from unnecessary risks should not be a partisan issue.

China’s financial markets present serious concerns, including limited transparency, government interference in private businesses and ongoing tensions with the United States. These factors create uncertainty, making it more difficult for investors to assess risks and make informed decisions.

In December 2023, at my recommendation, the Missouri State Employees’ Retirement System (MOSERS) voted to divest from certain Chinese investments. Missouri became one of the first states to take this important step.

I have also worked to expand investment choices for Missouri families through the MOST 529 Education Savings Plan. As Chairman of the MOST 529 Board, I encouraged our investment partners to develop an international investment option that excludes Chinese stocks. Vanguard responded by developing an investment option that gives families another way to invest internationally.

As a father, I understand the sacrifices parents make to provide their children with a brighter future. They deserve choices that reflect their financial goals and concerns.

This is not about avoiding international investments altogether. It is about recognizing risks, protecting hard-earned money and making responsible financial decisions.

Missouri has demonstrated that we can pursue long-term financial growth while taking sensible steps to reduce risk.

As your State Treasurer, I will continue working to safeguard public funds, promote responsible investment practices and put Missouri families first.