The National Council for Social Security Fund (NSSF) has been given the green light to invest 10 per cent of China’s national pension fund in private equity funds.
The country’s pension fund currently totals USD74 bn in assets managed
by the NSSF. Of that, USD7.4 bn has been cleared to invest in private
equity funds or industrial funds this year. The NSSF have called on
fund management companies to submit bids on managing funds in five
equity asset categories, media reports.
NSSF Chairman Dai Xianglong managed China's first private equity fund
in 2006, when he was the mayor of Tianjin, where the fund is based.
Last update : 06-06-2008
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