China Sovereign Fund Posts Loss on Foreign Assets

(Beijing) – China's sovereign wealth fund China Investment Corp. (CIC) reported its first loss on overseas investments in four years, dragged down by falling commodity prices and non-dollar denominated assets that lost value as the US currency surged last year.

CIC's overseas investments fell 2.96 percent in value last year, representing its first such loss since 2011, it said in its 2015 annual report released on July 22.