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Sovereign Wealth Funds Briefing - Categorized | Fund Profile/New Launches

Chinese fund may be biggest fool

Posted on 17 October 2008

From Newsmax.com: As much as $5.4 billion of China s $200 billion sovereign wealth fund could be frozen due to a U.S. money market account that failed, the Financial Times reports.

U.S. regulatory filings show that a China Investment Corporation (CIC) subsidiary was the biggest institutional investor in Reserve Primary Fund, a $62 billion money market fund that was the oldest such fund in the United States, and which recently closed its doors. Until recently many investors considered money market funds to be as safe as bank accounts….. Full Article: Source


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