CIC raises outsourcing, fears for deal-sourcing
China Investment Corporation is allocating more to external managers, non-US DM equities and EM debt and cutting exposure to DM sovereign bonds. But its 2013 returns still dipped year-on-year.
China’s sovereign wealth fund increased its allocation to external managers last year and made a move into developed market equities, but expressed concern over the outlook for deal-sourcing.
External firms managed $71.4 billion more of China Investment Corporation’s (CIC) assets at the end of 2013 than at the end of 2012 as it raised its allocations to 67.2%, from 63.8%, over the period.
The news follows reports last week which found that Asian institutional investors will like…
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