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

Chinese fund has a taste for resources

Posted on 06 July 2009

From Globeinvestor.com: China Investment Corp., which moved Friday to take a 17-per-cent stake in Teck Resources Ltd., is a state-owned sovereign wealth fund with $200-billion (U.S.) of assets under management, making it one of the world’s largest sovereign wealth funds.

Formed in 2007, the fund is responsible for investing a portion of China’s $2-trillion in currency reserves for the benefit of the state. After being burned by earlier investments in financial services firms, CIC shifted its focus to natural resources, fixed income and real estate………Full Article: Source


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