|
CHINA / National |
Sovereign wealth fund seeks external fixed-income managers(Xinhua)
Updated: 2008-02-01 09:42 BEIJING - China Investment Corp. (CIC), the nation's sovereign wealth fund, has begun a second recruitment drive to select the external managers for its fixed-income allocation. CIC said that it wanted managers for active global fixed income and active emerging market debt investment. Applications were due by February 15 and questionnaires would be send to applicants by February 18. Those documents were due February 28, according to a circular issued by the company on Thursday. The final list would be released after two rounds of appraisals. CIC was set up in September with an initial capital of US$200 billion from China's massive foreign exchange reserves. As a state-owned company focusing on overseas investment, its moves have drawn scrutiny overseas and at home. In December, CIC agreed to take a US$5 billion stake in US-based Morgan Stanley. It also invested US$3 billion in the US private equity firm Blackstone Group and put US$100 million into the initial public offering of the China Railway Group in Hong Kong. |
|