China’s NSSF assets top $178b in 2012
China’s National Council for Social Security Fund (NSSF) reported a 7% investment return in 2012, its best performance in three years, as total assets under management topped RMB1 trillion ($178 billion) for the first time.
At the end of 2012, the national pension fund had RMB1.1 trillion in assets, up 27.5% from the year earlier, it said in a statement. Investment income came to RMB64.5 billion, with the 7% return beating a lackluster performance of 0.84% in 2011 and 4.22% in 2010.
The NSSF received a capital injection of RMB52.6 billion from the central government last year and took over the management of a RMB100 billion pension fund in Guangdong provinc.
In mid-2012, Xianglong Dai, who has since stepped down as the fund's chairman, said commitments to private equity funds would rise by more than 50% for the year, in a move to enhance its investment returns.
As of mid-September, the NSSF had committed RMB22.6 billion to 16 venture capital and private equity funds, including vehicles run by Hony Capital, CDH Investments, CITIC Capital, SAIF Partners, CITIC Private Equity, Bohai Capital and New Horizon Capital.
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