China’s SWF to take control of its portfolios
China Investment Corporation (CIC), China's sovereign wealth fund, is considering shifting the management of some of its overseas portfolios in house.
Lou Jiwei, the fund's chairman, said in an article last week for Century Weekly, a Chinese magazine, that CIC was looking to slowly raise its share of self-managed investments in developed overseas markets. CIC, which is worth $300 billion, at present employs external fund managers to manage the bulk of its investments.
Lou said, however, that the
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