From Chinadaily.com.cn: China Investment Corp (CIC), the nation’s $200 billion sovereign wealth fund, made a profit of $10 billion in 2008, Shanghai Securities News quoted an unnamed source as saying.

That would put the CIC’s annual return at 5 percent, notwithstanding its controversial investments in US private equity firm Blackstone and investment bank Morgan Stanley. CIC has lost more than half of the $8 billion it invested in the two firms. Officials from CIC declined to comment…… Full Article: Source