Fund return hit by commodities, strong dollar
By Jiang Xueqing | China Daily | Updated: 2016-07-23 08:22
CIC says 2015 performance hurt by slumping oil and iron ore prices, foreign exchange losses
China Investment Corporation announced on Friday that its overseas investments generated a net return of negative 2.96 percent in dollar terms in 2015, falling from a positive 5.47 percent return for 2014, due to volatilities in international financial markets and foreign exchange losses triggered by an appreciating dollar.
The $814 billion Chinese sovereign wealth fund posted a net cumulative annualized return of 4.58 percent since its establishment in September 2007, compared with 5.66 percent in 2014.
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