26.07.2016 - CIC’s 2015 returns upset by volatile market environment
The China Investment Corporation (CIC) saw its returns plunging into the red last year amid the dismal global economic environment. In 2015, the net annual return of its overseas investments succumbed to a loss of 2.96%, against a net gain of 5.47% in 2014. The CIC’s latest annual report states that global stocks, commodity prices and non-US dollar currencies tumbled, introducing significant risks and challenges to its global investments. Due to volatility in international financial markets and foreign-exchange losses triggered by an appreciating US dollar, the CIC’s overseas investments generated a dollar-denominated net return of -2.96% in 2015, and a net cumulative annualised return of 4.58% since its inception in 2007...............................................Full Article: Source
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