China’s $1 Trillion Wealth Fund Gains 12% in ‘Unusual Year’
- CIC’s Zhao Haiying sees ‘relatively stable’ markets this year
- Fund made record capital commitments in private deals in 2020
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China Investment Corp. posted a return of more than 12% on overseas investments in 2020 after markets rallied on loose monetary policies, marking a breakout year for China’s $1 trillion sovereign wealth fund.
The unaudited returns bring the Beijing-based fund’s 10-year rolling average to more than 6.6%, beating its target. Executive Vice President Zhao Haiying expects calmer markets this year even as policy makers try to stimulate growth without spurring runaway inflation.