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.
By Reuters Staff
(Adds Goldman Sachs’ no comment)
BEIJING, March 4 (Reuters) - China’s $1 trillion sovereign wealth fund is scouting for long-term investment opportunities in the United States, an executive said, after a fund co-established with Goldman Sachs Group Inc raised $2.5 billion, half of the targeted amount.
The China-U.S. Industrial Cooperation Fund, launched in November 2017 on the sidelines of former U.S. President Donald Trump’s visit to Beijing, has completed two investments in the United States, China Investment Corp (CIC) Chief Strategy Officer Zhao Haiying told Reuters on Wednesday.
The fund was launched with the aim of reaping returns from helping the U.S. firms that it invests in to expand their market in China.
By Reuters Staff
3 Min Read
BEIJING (Reuters) - China’s $1 trillion sovereign wealth fund is scouting for long-term investment opportunities in the United States, an executive said, after a fund co-established with Goldman Sachs Group Inc raised $2.5 billion, half of the targeted amount.
The China-U.S. Industrial Cooperation Fund, launched in November 2017 on the sidelines of former U.S. President Donald Trump’s visit to Beijing, has completed two investments in the United States, China Investment Corp (CIC) Chief Strategy Officer Zhao Haiying told Reuters on Wednesday.
The fund was launched with the aim of reaping returns from helping the U.S. firms that it invests in to expand their market in China.
Read more about China s CIC eyes U.S. investment after fund with Goldman raised $2.5 bn on Business Standard. The fund was launched with the aim of reaping returns from helping the U.S. firms that it invests in to expand their market in China
BEIJING: China's $1 trillion sovereign wealth fund is scouting for long-term investment opportunities in the United States, an executive said, after a fund co-established with Goldman Sachs Group Inc raised $2.5 billion, half of the targeted amount.