Europe crisis saps returns at China wealth fund
SHANGHAI (AP) -- China's $482 billion sovereign wealth fund says it lost money on its overseas investments last year with a negative return of 4.3 percent, sapped by Europe's chronic debt crisis.
China Investment Corp. reported Wednesday that its profit in 2011 fell 6.1 percent, though the average annualized return on its investments since its founding in 2007 remained at 3.8 percent.
The Beijing-based company said in its annual report that it made major investments in the French gas sector, South African mining, British water services and Australian toll roads.
It said it received a fresh injection of $30 billion from the government meant to help diversify its funding sources.