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China’s Wealth Fund Posts Record Return After 2017 Global Rally

(Bloomberg) China’s $941 billion sovereign wealth fund posted a 17.6 percent return on its overseas investments last year, the best annual performance in its decade-long history, just before rising volatility and political tensions arrested a global stock market rally. That compared with 6.2 percent in 2016 and brought the company’s cumulative annual return to 5.9 percent, Beijing-based China Investment Corp. said in its 2017 annual report released Monday. Net income, which also includes profit from stakes in China’s biggest banks, surged 38 percent to $103.6 billion.

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