Pension fund spreading wings abroad
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| Dai Xianglong, chairman of the National Council for Social Security Fund, said the fund's assets will touch 2 trillion yuan by 2015. [Jiang Xin / for China Daily] |
The Social Security Fund (SSF), the nation's largest pension fund, is planning aggressive investments in overseas markets, including private equities, Dai Xianglong, chairman of the National Council for Social Security Fund, said on Monday.
"The SSF is keen on expanding its overseas footprint through its investments in stocks, bonds as well as new avenues like private equities," said the chairman.
The fund can invest as much as 20 percent of its total assets abroad, Dai said.
The fund's holding of overseas assets including stocks and bonds were just 6.54 percent of its total portfolio at the end of last year.
Dai said the fund's role would be that of a financial investor and it does not intend to seek control of the investee companies.
The chairman, however, refused to reveal the investment timetable but said the fund was in talks with overseas asset managers on several programs for unlisted companies and private equity funds.
The pension fund will also come out with rules governing its overseas investments after it gains some experience abroad, Dai said.
"There is enough room to improve our overseas investments," said Dai. The fund's next few moves will help diversify the nation's huge foreign exchange holdings of $2.4 trillion, he said.
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