China Investment Corp ( CIC ) – China’s sovereign wealth fund, favors larger hedge funds in selecting external managers for investing its capital.
CIC favors larger hedge funds in selecting external managers for investing its capital, said Hua Fan, CIC’s head of fixed-income investment.
China Investment Corp CIC is the nation’s sovereign wealth fund,
CIC helps China manages the world’s largest foreign- currency reserves, will also avoid “over-diversification” by investing in too many funds, Fan said at an annual conference of the Chinese Finance Association in New York.
China Investment Corporation 中国投资有限责任公司
China Investment Corporation is a sovereign wealth fund responsible for managing part of the People’s Republic of China’s foreign exchange reserves. CIC was established in 2007 with approximately US$200 billion of assets under management, making it one of the largest sovereign wealth funds and CIC’s assets have grown to $407 billion.
The People’s Republic of China has US$3.2 trillion in currency reserves. The China Investment Corporation was established with the intent of utilizing these reserves for the benefit of the state, modeled according to Temasek Holdings of Singapore. The state-owned Central Huijin Investment Corporation was merged into the new company as a wholly owned subsidiary company.