China Investment Corporation’s (CIC) investment return dropped to 12% last year from 17.41% in 2019, according to a
Reuters report, quoting Chief Strategy Officer Zhao Haiying, who also says the sovereign wealth fund is keeping watch for potential US policy changes under President Joe Biden.
CIC’s ten-year annualised investment return in 2020 was unchanged from 2019 at over 6.6%, Zhao told the news agency in an interview on March 4.
The wealth fund has not as yet publicly released its annual results. Zhao did not give a reason for the lower return last year, but the figures underscore the toll exacted by the coronavirus pandemic. Although global markets have rebounded from the battering earlier in 2020, volatility has remained high.