26.07.2012 - China's sovereign fund shifting away from stocks
China Investment Corp., which posted a 4.3% loss on its global portfolio last year, has significantly reduced its holdings of public securities and accelerated a push into longer-term investments as the $482 billion sovereign-wealth fund seeks to shield itself from short-term market swings. CIC said in its 2011 annual report released Wednesday that public equities made up 25% of its global portfolio at the end of last year, down from 48% at the end of 2010. Long-term assets—which include direct investments in nonpublic companies and private equity—and hedge funds together accounted for 43% of its portfolio..............................................Full Article: Source
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