Marshall has invested tens of thousands of dollars in mutual funds with Chinese holdings.
Sen. Roger Marshall (R-KS) smeared Dr. Anthony Fauci on Sunday for having "significant investments in China" based on a single managed investment fund. But the GOP senator himself owns at least three such funds with Chinese investments.
"Dr. Fauci and his spouse made almost $2 million during 2020," he complained. "A significant amount of these investments are in China or Hong Kong."
Host Sean Hannity then asked, "Did he or did he not have investments in China, Senator?"
"Yes. Yes, he did. He had significant investments in China through one of his mutual funds," Marshall replied.
It is not unusual or illegal for public officials — or other Americans — to invest in mutual funds. By putting money into these funds, managed by experts, individuals can avoid the hassle of having to research and choose which stocks and bonds to buy and sell. For public officials, it is also a way to sidestep potential conflicts of interest.
Many of these funds invest in international markets, including China and Hong Kong.
Marshall's office did not immediately respond to an inquiry for this story. But the senator's own financial disclosures contradict his attack on Fauci, as Democratic strategist Tim Hogan noted.
"I'm sorry, this is so stupid. Senator Marshall's big reveal on Hannity is that Fauci owns mutual fund shares that include Chinese equity?" Hogan tweeted on Sunday. "Took me 3 minutes to find: Marshall ... also owns shares in a mutual fund that invests in China."
An American Independent Foundation review of Marshall's amended 2020 filing revealed that he holds at least $15,001 worth of American Funds Europacific Growth A (AEPGX), which listed 7.4% of its net assets as being in China on Dec. 31 — the third-largest share of investments in any country.
He also owned more than $50,000 worth of American Funds New World Fund A, which listed 15% of its assets as being in China, second only to the percentage held the United States.
Marshall's wife Laina has at least $1,001 worth of investments in First Trust Emerging Markets AlphaDEX Fund. As of Jan. 14, 30.61% of its holdings, or the largest percentage, were in China.
Marshall has not filed any transaction reports since his August disclosure to indicate that he or his wife have divested from these funds.
According to Marshall's logic, several of his fellow China critics in the Senate Republican caucus are also owners of "significant investments in China" or Hong Kong.
These include Marsha Blackburn of Tennessee, Tom Cotton of Arkansas, Ted Cruz of Texas, Josh Hawley of Missouri, and Rand Paul of Kentucky, each of whom reported in their 2020 disclosures that they or their spouse held at least one mutual fund with some Chinese or Hong Kong investments.
Last week, at a Senate hearing on the ongoing COVID-19 pandemic, Fauci butted heads with Marshall after the GOP senator falsely accused Fauci of concealing information about his personal finances. Fauci, like any other public official, is required to submit personal financial disclosure documents that are readily available to the public.
"What a moron," Fauci muttered after the exchange.
Published with permission of The American Independent Foundation.