CHINA - The China Investment Corp. (CIC) announced returns on its global portfolio of -2.1% in 2008 in the sovereign wealth fund's first publicly reported annual report since its inception.
The majority of CIC's US$298bn portfolio - 87.4% - sat in cash at the end of the year. The CIC's return on capital, which includes cash income and dividends from its domestic holdings, was 6.8% for...
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