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Sovereign fund to invest in global equity market

(Agencies)
Updated: 2008-07-09 14:56

China Investment Corp (CIC), the country's $200 billion sovereign wealth fund, will soon start investing in global equity markets through its overseas asset managers, the China Securities Journal said on Wednesday.

CIC will invest in equity asset classes such as global equity active, emerging market active and Asia ex-Japan equity active, the newspaper said, citing unnamed sources.

A source said last month that CIC was in final talks to entrust each of eight overseas asset managers with $250 million to $600 million worth of fixed income funds focused on emerging markets.

CIC expects to have $80-90 billion of its total assets of $200 billion available for overseas investment.