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Sovereign Wealth Funds Briefing - Categorized | Fund Management/Administration, Investment, Market

Portfolio holds 90% cash and CIC is reluctant to invest overseas

Posted on 09 December 2008

From Chinastakes.com: Despite sharply falling global asset prices, China Investment Corporation (CIC), China’s sovereign wealth fund (SWF), seems to be running a bit scared these days as lessons from its nasty early losses, and the losses of other SWFs, from ill-timed investments in US and European financial firms have convinced it that holding cash is a preferable option.

Wang Jianxi, CIC’s vice-general manager and chief risk officer, revealed last Saturday that currently 90% of CIC’s assets were in cash. …. Full Article: Source


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