China CIC sheds $111bn in assets after 2022 investment losses
Sovereign wealth fund China Investment Corporation's total assets under management dropped to $1.24 trillion at the end of 2022. But, it still managed to achieve its 50% alternative asset allocation target for overseas investments.
One of the world’s largest sovereign wealth funds, China Investment Corporation (CIC) recorded a $111 billion drop in its total assets under management (AUM) after suffering investment losses in 2022, according to its latest annual report released on December 1.
The report showed that CIC’s AUM slumped to $1.24 trillion at the end of 2022, from $1.35 trillion in end-2021. As a result, the annualised cumulative 10-year net return dropped by 2.3 percentage points to 6.43% as of the …
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