China State Fund Has 2.4% Overseas Investment Loss for 2018
- Sovereign fund’s loss compares with record 17.6% gain in 2017
- CIC has been reducing exposure to more volatile public markets
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China Investment Corp., the nation’s $941 billion sovereign wealth fund, reported a 2.35% loss on its overseas investments last year amid tumbling global equity markets.
Chairman Peng Chun didn’t strike an optimistic note about the future either, telling reporters in Beijing that the investing environment is “more difficult” this year due to rising asset-price volatility, unilateralism, slowing global growth and tighter regulatory scrutiny on foreign investments.