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China’s Sovereign Fund Favors Big Hedge Fund Managers, Fan Says

BusinessWeek – China Investment Corp., the nation’s sovereign wealth fund, favors larger hedge funds when selecting external managers for investing its capital, said Hua Fan, head of fixed-income investment at CIC.

CIC, which helps China manage the world’s largest foreign- currency reserves, will avoid “over-diversification” by investing in too many funds, Fan said at an annual conference of the Chinese Finance Association in New York yesterday.

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