China's social security fund to triple offshore investment
The country's largest pension fund plans to raise its exposure to foreign investments, private equity and social-security housing, backed by its $1 trillion-and-growing cash pile.
China's National Council for Social Security Fund (NCSSF) plans to increase its overseas investments from 7% of its portfolio to 20%, while its assets under management (AUM) is set to grow to Rmb1 trillion ($152 billion) by the end of this year and Rmb1.5 trillion by 2015.
NCSFF chairman Dai Xianglong made these points during the annual session of the National People’s Congress and the Chinese People’s Political Consultative Conference this week in Beijing. He did not, however, of…
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