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Sovereign Wealth Funds Briefing - Categorized | Fund Management/Administration

China SAFE says ex-Pimco hire doesn’t mean strategy change

Posted on 29 December 2009

From Imarketnews.com: China Investment Corporation, a new-$300 billion sovereign wealth fund established in 2007 with a view to challenging SAFE’s dominance of foreign exchange reserve management, has recently applied to the State Council for another $200 billion in reserves to manage.

The hiring of an investment manager from PIMCO doesn’t indicate a change in strategy by China’s State Administration of Foreign Exchange, an official with the reserve manager said Tuesday…………………………………….Full Article: Source


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