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Sovereign Wealth Funds Briefing - Categorized | Performance

Sovereign wealth fund stung by markets

Posted on 10 June 2010

From People.com.cn: China’s massive sovereign wealth fund announced Tuesday a 10 pecent mark-to-market loss and said it was waiting for fresh money from the government. China Investment Corporation (CIC), also known as China’s sovereign wealth fund, manages nearly $300 billion in foreign exchanges.
“In May and June, because of the volatility of the US and European markets, we had about 10 percent mark-to-market losses,” Jesse Wang, executive vice president and chief risk officer of China Investment Corporation, said at an event in San Francisco…………………………………………Full Article: Source

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