China’s NCSSF sees returns plunge, eyes new assets
The country's flagship state retirement fund saw its assets swell 6.7% to $300 billion despite posting a return of just 1.73% in 2016. Chairman Lou Jiwei set out its investment plans.
China’s biggest pension fund returned just 1.73% in 2016 amid lacklustre domestic stock markets and is looking to make substantial changes to its portfolio and strengthen its in-house capabilities.
Last year’s performance was the worst since 2012 for the National Council for Social Security Fund (NCSSF) and a startling drop from the 15.19% it achieved in 2015. The latter figure had been the highest return for six years.
Lou Jiwei, NCSSF’s chairman, attributed the decline to the…
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