China Investment Corporation’s first-ever disclosure of its direct US equity holdings reveals the fund’s cautious approach to investing in the US, according to a report by Shanghai-based research firm Z-Ben Advisors.
The SEC in the US requires investment managers with $100 million or more invested in securities overseen by the regulator to disclose their holdings annually on a form called 13F. CIC’s February filing of the form is a first glimpse into its US strategy, says the report, and offers interesting insights into the mindsets of the Chinese sovereign fund’s managers.
The Z-Ben report begins: “With a total of $9.6
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