RSS   Newsletter   Contact   Advertise with us

China sovereign wealth fund returns to profit overseas

Staff Writer | July 11, 2017
China's sovereign wealth fund China Investment Corporation (CIC) said that its overseas investment returned to profit in 2016 despite uncertainties in the global investment environment.
China Investment Corporation
Investment   Uncertainties in the global investment environment
CIC posted a U.S. dollar-denominated net return of 6.22 percent in overseas investment last year, compared with a loss of 2.96 percent in 2015.

The year 2016 was an extraordinary year for the fund, CIC Vice Chairman and President Tu Guangshao said in its annual report.

Facing a complex global landscape fraught with uncertainties, CIC achieved encouraging results through internationalized, market-oriented and professional operations, Tu said.

The fund has seen a net cumulative annualized return of 4.76 percent in overseas investment since its establishment, according to the report

Its total assets had grown to 813.5 billion dollars by the end of last year.

In CIC's overseas investment portfolio, public equity, fixed income, alternative assets and cash products accounted for 45.87 percent, 15.01 percent, 37.24 percent and 1.88 percent, respectively.


 

MORE INSIDE POST