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CIC Yields 11.7% Returns On Int’l Projects

The China Investment Corporation received an 11.7% return on its overseas portfolio in 2010, amounting to assets worth $409.6 billion.

The China Investment Corporation (CIC) received an 11.7% return on its overseas portfolio in 2010, amounting to assets worth $409.6 billion, The Wall Street Journal reports. The portfolio allocated 41.9% to North America, 29.8% to Asia Pacific, 21.7% to Europe, 5.4% to Latin America and the rest to Africa, adds Pensions & Investments.

The Chinese sovereign wealth fund’s holding in alternative assets constituted 21%, while cash holdings were only 4%. Nearly 50% of CIC’s early investment of $200 billion was in international ventures and the remaining in stakes of Chinese state banks. Investments included $1.6 billion in AES for a 15% stake, $416 million in Penn West Energy Trust for a 5% interest and $200 million in Chesapeake Energy.

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