CIC announces 11.7% return on global investments for 2010

The sovereign wealth fund's global investment portfolio swelled by $35.7 billion, with cash holdings down to 4% from 32%. In addition to alternative investments, equities exposure rose sharply, from 36% to 48%. Fixed income investments remained relatively consistent on 27%, compared to 26% the previous year.

From a geographical perspective, CIC remains most committed to North America, which accounts for 41.9% of its investments. Asia Pacific follows on 29.8%, then Europe on 21.7%, with Latin America and Africa in single digits.

CIC hired 105 more professionals last year, taking its total headcount to 378, yet the bulk of investment s - 59% - are still managed externally.

The fund is looking for a fresh injection of capital, having revealed that it was "essentially fully invested" by the end of last year. The Financial Times reported earlier this year that CIC would receive $100-200 billion in capital from the government so that it could continue its pursuit of overseas assets. The funds would come from Beijing's $3.19 trillion in foreign exchange reserves.

CIC's total assets reached $409 billion at the end of 2010, up from $332 billion a year earlier. This includes stakes in China's major state-owned banks - ranging from 35.4% in Industrial and Commercial Bank of China to 67.6% in Bank of China - that are owned through Central Huijin, an entity that falls under CIC's control but it managed separately from its global investments.

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• Topics
• Greater China
• LPs
• Investments
• CIC