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Coffeeshop Chit Chat - China SWF post 5% return in 2008</TD><TD id=msgunetc noWrap align=right>
Subscribe </TD></TR></TBODY></TABLE><TABLE class=msgtable cellSpacing=0 cellPadding=0 width="96%"><TBODY><TR><TD class=msg vAlign=top><TABLE cellSpacing=0 cellPadding=0 width="100%" border=0><TBODY><TR class=msghead><TD class=msgbfr1 width="1%"></TD><TD><TABLE cellSpacing=0 cellPadding=0 border=0><TBODY><TR class=msghead><TD class=msgF noWrap align=right width="1%">From: </TD><TD class=msgFname noWrap width="68%">teh_si <NOBR></NOBR></TD><TD class=msgDate noWrap align=right width="30%">7:02 am </TD></TR><TR class=msghead><TD class=msgT noWrap align=right width="1%" height=20>To: </TD><TD class=msgTname noWrap width="68%">ALL <NOBR></NOBR></TD><TD class=msgNum noWrap align=right>(1 of 1) </TD></TR></TBODY></TABLE></TD></TR><TR><TD class=msgleft width="1%" rowSpan=4></TD><TD class=wintiny noWrap align=right>8334.1 </TD></TR><TR><TD height=8></TD></TR><TR><TD class=msgtxt>5% portfolio return - US$10 billion profit from US$200 billion portfolio
45% in cash-like instruments
put Temasek and GIC to shame!
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China sovereign fund posts 5% investment return
China Investment Corp (CIC), the nation's $200 billion sovereign wealth fund, made a profit of $10 billion in 2008, Shanghai Securities News quoted an unnamed source as saying.
That would put the CIC's annual return at 5 percent, notwithstanding its controversial investments in US private equity firm Blackstone and investment bank Morgan Stanley. CIC has lost more than half of the $8 billion it invested in the two firms.
Officials from CIC declined to comment.
The source said CIC had $90 billion invested in highly liquid financial assets, including treasury bills and bank notes. These investments yielded a pretax income of $3 billion.
Meanwhile, CIC has also received considerable dividends from its stakes in domestic financial institutions such as China Construction Bank and Bank of China, the source said.
<HR SIZE=1>Edited 3/2/2009 10:15 am by teh_si</TD></TR></TBODY></TABLE></TD></TR></TBODY></TABLE>
45% in cash-like instruments
put Temasek and GIC to shame!
==
China sovereign fund posts 5% investment return
China Investment Corp (CIC), the nation's $200 billion sovereign wealth fund, made a profit of $10 billion in 2008, Shanghai Securities News quoted an unnamed source as saying.
That would put the CIC's annual return at 5 percent, notwithstanding its controversial investments in US private equity firm Blackstone and investment bank Morgan Stanley. CIC has lost more than half of the $8 billion it invested in the two firms.
Officials from CIC declined to comment.
The source said CIC had $90 billion invested in highly liquid financial assets, including treasury bills and bank notes. These investments yielded a pretax income of $3 billion.
Meanwhile, CIC has also received considerable dividends from its stakes in domestic financial institutions such as China Construction Bank and Bank of China, the source said.
<HR SIZE=1>Edited 3/2/2009 10:15 am by teh_si</TD></TR></TBODY></TABLE></TD></TR></TBODY></TABLE>
