25.07.2016 - China Sovereign Fund Has Loss on Commodities, Negative Rates
China’s $813.8 billion sovereign wealth fund posted its first loss on overseas investments in four years last year as commodity prices sunk, while stock and bond returns were damped by negative interest rates and a strong U.S. dollar. China Investment Corp. had a loss of 2.96 percent in the year ended December, compared with a 5.47 percent gain a year earlier, according to the Beijing-based company’s 2015 annual report released Friday. Net income at the fund, which holds government stakes in China’s biggest banks, fell 17 percent to $73.9 billion, the report showed...............................................Full Article: Source
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