|
|
Article: ANALYSIS: CHINESE SOVEREIGN FUND GEARING UP ASSETS DIVERSIFICATION.
- Article from:
- AsiaPulse News
- Article date:
- October 12, 2009
CopyrightCOPYRIGHT 2009 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
BEIJING, Oct 12 Asia Pulse - The China Investment Corporation (CIC), China's sovereign wealth fund, has geared up to diversify its asset structure.
Among others, overseas basic commodities firms have recently become important investment targets for the CIC's asset reshuffle, possibly over high expectation of dollar depreciation in the long term, analysts guess.
The CIC announced on September 30 that it had paid US$939 million for a stake in Kazakhstan oil and gas company JSC KazMunaiGas Exploration Production (KMG EP).
The CIC had purchased about 11 per cent of the Global Depository Receipts (GDRs) of KMG EP through CIC's wholly-owned ...