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Sovereign Wealth Funds Briefing - Categorized | Trends

China fund shifts focus from energy

Posted on 19 February 2014

China Investment Corp. is selling energy and commodity holdings while seeking to capitalize on recovering U.S. and European economies, a major shift in strategy for the $600 billion sovereign-wealth fund.
Since late last year, CIC has unloaded more than $1.5 billion of shares in companies including AES Corp., a U.S. power company, and GCL-Poly Energy Holdings Ltd., a Hong Kong-listed green-energy company, according to regulatory filings by the companies. CIC, the world’s fifth-largest government-controlled fund, has also sold stakes in two other Hong Kong-traded wind-power companies, according to filings………………………………………..Full Article: Source


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