Jul
15
China Stocks at Record Lows Make Case for $941 Billion Fund
By-
CIC said to seek approval to invest in domestic market
- Senior wealth fund executive cited ‘good opportunities’
China’s sovereign wealth fund has expressed a desire to invest in the domestic market as stock valuations have hit multiyear lows, underscoring how coming home may bring it new opportunities to boost returns.
The $941 billion China Investment Corp. wants permission to invest in local shares and bonds, and has laid the groundwork for an application to the central government, people with knowledge of the matter said. While it remains unclear if top leaders will grant approval, the potential move by the Beijing-based investor would add an engine of growth to complement an overseas portfolio that posted record returns last year…
