The Ethics of Sovereign Funds: Investing the People's Money
For economic and, especially, political reasons, SWFs should not be investing their people's capital in "2 and 20" blind-pool funds where the fund managers receive 2% of the assets under management each and every year without any regard as to the performance of their funds.
China's Sovereign Wealth Funds Look for New Money, More Overseas Investment
CIC is lobbying for another $100 billion entrusted from foreign exchange reserves under its management. Huijin, the state-owned financial institution stake holding company under CIC, is seeking to issue 190 billion in yuan-denominated bonds to inject capital into the Export-Import Bank of China and China Export & Credit Insurance Corporation (Sinosure), as well as to strengthen the capital base of the Industrial and Commercial Bank of China (ICBC), Bank of China (BoC), and China Construction Bank (CCB).
"Short the China Bubble" Trend Is Spreading
In a financial market of 10,000 participants, a stock that is collectively believed about to surge soon would be bound to surge since the 10,000 speculators would all buy it. But the sun will never rise from the west even if 6 billion people on earth believe so. Who knows?
SAFE's Billions Slipping into US, Foreign Markets
The State Administration of Foreign Exchange(SAFE), the agency stewarding China's $2.4 trillion foreign exchange reserves under the People's Bank of China, has invested billions of dollars in a number of US hedge funds and asset management firms, including Pacific Investment Management Co,(PIMCO)、BlackRock, and Bridgewater Associates.
A-Share Market Feels Pain on Expansionary Policy Exit
The falling A-shares have analysts almost unanimously pointing to the tightening of policy. Banks, real estate, coal, nonferrous metals, and cyclical industries have taken the worst hits from capital flight, while the performance of defensive industries such as bio-medicine and agriculture have seen less change.
SAFE Hires Top Fund Manager to Diversify Reserve Investment
China's foreign exchange reserves are managed by SAFE's Reserves Division, which currently employs 300 people worldwide, 250-260 of those in the Beijing headquarters. It comprises nearly 20 departments, ranging from asset allocation, investment management, risk management, clearing, accounting, and compliance, among others.
Chinese Speculators Play on: Is Gold the Next Bubble?
There is a feverish quality to Chinese speculative investing, a tendency for the herd to rush into the next asset or instrument as though this for certain going to be the Bonanza Strike, the one that puts us over the top.
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