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Chinese sovereign fund CIC rakes in 11.3 percent return

BEIJING -- China Investment Corp. (CIC), the country's US$300 billion sovereign wealth fund, raked in a return of around 11.3 percent on its overseas investment last year, a company executive said Tuesday.

“The return on our overseas investment in 2010, based on the market value of our portfolios at the beginning of last year, is around 11.3 percent,” the executive, who declined to be named, told AFP. She said the figure was a preliminary estimate and could be revised when the company releases its annual report in August. She declined to give further details.

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