China Investment Corporation (CIC ) released its annual report on Jul 26, the third such report since the sovereign wealth fund was established in 2007. In 2010, CIC reduced the proportion of cash holdings from 32% at the start of the year to only 4% of its investment portfolio by the end of the year. A total of 35.7 billion US dollars worth of investments were added. The return on CIC’s global portfolio of investment over the year reached 11.7%, taking the average annual yield on investment since it was founded to 6.4%. CIC now controls close to 410 billion US dollars in assets, up from 200 billion US dollars when it was first established.

 Source

Economic Observer Online

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