CHINA - China Investment Corporation, the Chinese sovereign wealth fund, is using exchange traded funds to gain exposure to a diverse range of asset classes, according to a filing with the US Securities and Exchange Commission.
The filing, which details the fund's US$9.6bn in US-listed assets, shows CIC has around 25% of this money in ETFs. These funds provide exposure to a range of asset classes, including investment in individual countries, emerging markets, and commodity sectors.
CIC has positions in a list of iShares ETFs, comprising the iShares MSCI Japan Index fund, FTSE/Xinhua China 25, MSCI Emerging Markets, MSCI EAFE, Russell 2000, S&P Global Energy Sector and the Global Materials Sector funds.
China's sovereign wealth fund also has positions in gold ETFs through the Market Vectors Gold Miners fund and the SPDR Gold Shares, as well as commodities through the SPDR S&P Oil and Gas Exploration and Production fund.
Other sectors covered by the wealth fund's use of ETFs include the Consumer Discretionary Select Sector SPDR, the SPDR S&P International Energy Sector, S&P International Financial Sector, S&P International Industrial Sector, and the Materials Select Sector SPDR ETFs.
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