Diversification fails to save CIC from record loss
China Investment Corporation records a -4.3% loss in 2011, noting its increased PE activity is still at an early investment stage.
Increased diversification and insourcing of talent failed to pay off for Chinese sovereign fund CIC last year after it recorded its worst annual performance since inception in 2007.
China Investment Corporation saw a loss of -4.3% in 2011, in contrast to a gain of 11.7% in 2010, according to its annual report released earlier this week.
It finished the year with $482 billion in AUM, up 17.8% from $409 billion in 2010. Of the latest figure, 57% was managed externally – a reducti…
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