PFA sells Alibaba stake amid concerns

PFA Pension has sold its investment in Chinese e-commerce giant Alibaba due to doubts about the company’s responsible management, which also poses a significant investment risk, according to Rasmus Bessing, head of sustainable investing at PFA. Previously, PFA Pension had invested 457 million Danish kroner in Alibaba Group Holding, making it the Danish pension company with the largest investment in Alibaba. This decision follows reports of pension companies withdrawing investments from Temu’s parent company, PDD Holdings, after criticism about product safety. PensionDanmark, PFA Pension, and Lærernes Pension had previously dropped their investments in PDD Holdings. Other pension funds, including Sampension and Industriens Pension, have also indicated they will sell their shares following consumer organizations’ criticism of Temu for selling products not meeting European safety standards.