Jul 14 2008
China’s Next Big Oil Play?
One of the biggest business stories of the year has literally been buried by the media — and it could cost you a lucrative opportunity.
On July 9, the China Investment Corp (CIC), the country’s $200-billion sovereign wealth fund, said it will start investing in global equity markets through its overseas asset managers, according to the China Securities Journal.
CIC said it will allocate $250 million to eight different overseas asset managers.
Why Big Media didn’t play this up more prominently is a real joke. CIC is the world’s sixth biggest sovereign wealth fund (SWF). The decision to start actively investing in emerging market equities is a clear indication that emerging markets cannot be ignored.
