CIC: To Increase Self-Managed Investments In Developed Markets

BEIJING -(Dow Jones)- China Investment Corp., the country's sovereign wealth fund, aims to increase self-managed investments in developed markets while continuing to rely on external managers for investing in less developed markets, CIC Chairman Lou Jiwei said.

CIC aims to steadily speed up the pace of overseas investments this year by adjusting the allocation of its assets and achieve better financial returns, Lou wrote in an article published Monday in the Century Weekly magazine, headed by former editors of the well-regarded Caijing magazine.

He said CIC has focused much of its investments in the resources area since the second half of last year due to the good prospects for asset appreciation amid rising global demand.

The world's emerging economies have proved to be an important buffer against the global financial crisis but it's hard for them to become an engine to drive a fast post-crisis global economic recovery, Lou said.

-Victoria Ruan contributed to this article, Dow Jones Newswires; 8610 8400 7799; victoria.ruan@dowjones.com

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