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China’s sovereign wealth fund broadening scope PDF Print E-mail
Thursday, 13 March 2008

Agence France-Presse . Shanghai

China’s vast sovereign wealth fund is expanding the scope of its investments beyond traditional assets like stocks and bonds to private equity and hedge funds, state media reported Tuesday.

The 200-billion-dollar China Investment Corp. has already entrusted money to external asset managers to focus on these alternative investments, the China Securities Journal said, citing Jesse Wang, the fund’s vice president.

Wang was not quoted as saying how much money had been entrusted to the outside asset managers, but said that the fund planned to set up branches in global financial centres.

‘The basic point for our overseas investments is being a financial investor. We seek maximum investment returns with manageable risks,’ the newspaper quoted Wang as saying.

When British prime minister Gordon Brown visited China in January, he invited the fund to set up an overseas office in London. China has not so far publicly responded to this invitation.

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