Posted by: jhamon | June 18, 2009

China: Let the Gold Rush Begin

Wealth Jolts the Peak
Image by gray_eminence via Flickr

From FINalternatives:

China’s sovereign wealth fund plans to begin investing in hedge funds, according to an adviser.

Felix Chee told Bloomberg News that China Investment Corp., which manages US$200 billion, favors managed accounts. Chee, a special adviser to CIC’s chief investment officer, will initially run the hedge fund and proprietary trading portfolios.

“It’ll be across the spectrum of strategies,” he said of CIC’s hedge fund plan. “We’re looking at the best managers and a handful of fund of funds. And when I say a handful, I mean five or less.”

Chee formerly managed the University of Toronto endowment.

At this very moment, 5,000 guys sitting at Bloombergs are planning the attack.

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