19.02.2014 - China fund shifts focus from energy
China Investment Corp. is selling energy and commodity holdings while seeking to capitalize on recovering U.S. and European economies, a major shift in strategy for the $600 billion sovereign-wealth fund. Since late last year, CIC has unloaded more than $1.5 billion of shares in companies including AES Corp., a U.S. power company, and GCL-Poly Energy Holdings Ltd., a Hong Kong-listed green-energy company, according to regulatory filings by the companies. CIC, the world's fifth-largest government-controlled fund, has also sold stakes in two other Hong Kong-traded wind-power companies, according to filings...............................................Full Article: Source
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