To sleep, perchance to dream… of a sovereign wealth fund allocation
| Aug 5th, 2010 | Filed under: Hedge Fund Industry Trends, Institutional Investing, Today's Post | By: AAA Staff |
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To alternative asset managers, China Investment Corp. is clearly among the mother of all potential catches. With hundreds of billions of dollars of assets in its arsenal and an in-house mandate of allocating to hedge funds and other alternatives, it’s enough to make a hedge fund manager all fuzzy inside.
But if one interprets the tea leaves from the latest media coverage and various reports extolling the CIC’s growth, success and future investment aspirations, the possibility of getting a knock on the door from someone at the CIC is a lot less of a pipe dream than many might think.
For starters, the CIC this week rolled out its second annual report (click here to view the CIC’s 2009 annual report) since becoming an official corporation in 2007. The results? Pretty decent double-digit returns of almost 12% last year, versus -2.1% in 2008 – not bad by any stretch. According to its report, CIC made investment allocations of approximately US$58 billion in 2009.
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