29.07.2013 - China wealth fund CIC posts 10.6pct return as equity rally
China Investment Corp., created to manage part of the nationís $3.5 trillion of foreign-currency reserves, reported a 10.6 percent return on its overseas investments last year as global equities rallied. Net income at the $575 billion sovereign wealth fund, which also holds the governmentís stakes in Chinaís biggest banks, rose to $77.4 billion from $48.4 billion in 2011, Beijing-based CIC said in its annual report yesterday. Its overseas investment returns compared with a 4.3 percent loss in 2011 amid declines in global commodity prices...............................................Full Article: Source
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