| Increased diversification and insourcing of talent failed to pay off for Chinese sovereign fund CIC last year after it recorded its worst annual performance since inception in 2007.
China Investment Corporation saw a loss of -4.3% in 2011, in contrast to a gain of 11.7% in 2010, according to its annual report released earlier this week. It finished the year with $482 billion in AUM, up 17.8% from $409 billion in 2010. Of the latest figure, 57% was managed externally – a reduction from 59% at the end of 2010. It managed 43% of assets internally by the year’s close, from 41% in 2010...............................................Full Article: Source
|