China Investment Corp, the sovereign wealth fund, said on Friday it had outperformed most of its peers in spite of a return on its global portfolio of minus 2.1 per cent in 2008.
The fund said its returns had been better than most other SWFs, pension funds or university endowments. And if its domestic portfolio of state-owned financial institutions were taken into consideration, the fund had made a return on registered capital of 6.8 per cent, it said.
“We are very happy to see that, amidst the terrible global economic environment in 2008, CIC achieved a 6.8 per cent return on capital,” Lou Jiwei, chairman, said in the fund's first annual report since it was set up in September 2007.