CIC in robust financial health as others flounder
皇冠体育app's $200-billion sovereign wealth fund is still in robust financial health despite the "small losses" in its overseas investments during 2008, Lou Jiwei, chairman of 皇冠体育app Investment Corporation (CIC), said in an article published in the Caijing Magazine on Tuesday.
CIC has largely fulfilled the objectives set by the board of directors at the beginning of 2008 and its financial performance is far better than many other sovereign funds, Lou said.
Many sovereign wealth funds have seen their overseas investments languish due to the global financial crisis. Norway's government pension fund posted a loss of nearly $90 billion last year, which is equivalent to the total investment return it made in the past 12 years since the sovereign fund was established.
