Returns in China CIC fell 5.47% in 2014
China’s sovereign wealth fund China Investment Corporation said investment returns fell to 5.47% in 2014 from 9.33% in 2014.
As of the end of 2014, CIC's total assets surpassed $740bn, up from $653.7bn the year before.
CIC said it had achieved its target of appreciating its assets under management against a rapidly changing global market.
“With an eye on the overall economic picture, CIC promptly responded to developments in the global economy and remained focused on identifying the investment opportunities that China’s economic success, economic structural upgrading, and global outreach present,” chairman Ding Xuedong said in the annual report.
The report said in 2014 CIC fine-tuned its portfolio by reducing exposure to emerging market bonds, US inflation–linked bond and liquid commodities.
Instead it beefed up equities in advanced economies, the report said.