15.01.2013 - China's sovereign wealth fund in big 2012 turnaround
China Investment Corporation (CIC), the world's biggest sovereign wealth investor said 2012 was a much better year for the $482-billion fund, with returns of over 10 percent. "2012 was a much easier year than 2011 and the returns are much better," Chairman and Chief Executive of CIC, Lou Jiwei said. "[T]he final numbers have not come out…but we are confident our returns will be over 10 percent." Double digit returns would be a big turnaround for the fund, which suffered its first ever decline in profits in 2011. Net profit declined 6.1 percent in 2011 to $48.4 billion compared to 2010...............................................Full Article: Source
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