26.07.2012 - China sovereign fund reports loss on foreign portfolio
China's sovereign wealth fund said Wednesday it suffered a 4.3-percent loss on its overseas investments last year due to the weak global economy. It was the first loss since 2008 when China Investment Corp (CIC) was hit hard by the global financial crisis, the company said in its yearly report. It did not divulge the value of last year's loss. CIC was set up in 2007 to invest some of China's massive foreign exchange reserves -- the world's largest at $3.24 trillion as the end of June -- partly to secure more solid returns on the holdings...............................................Full Article: Source
Print