ADVFN - Advanced Financial Network.
HOME» NYSE » B » BLC Stock Price » BLC Stock News

Belo Share News

 Belo Corp. Stock Price
BLC Stock Price
 Belo Corp. Stock Chart
BLC Stock Chart
 Belo Corp. Stock News
BLC Stock News
 Belo Corp. Company Information
BLC Company Information
 Belo Corp. Stock Trades
BLC Stock Trades

China's CIC Sets Up Department For Big Opportunistic Invests

BEIJING -(Dow Jones)- China's US$200 billion sovereign wealth fund, China Investment Corp., said late Wednesday it has set up a specific department dealing with big opportunistic investments aimed at long-term returns. The move is part of the drive by CIC to restructure its investment departments to maximize interest for its shareholders, the sovereign fund said in a statement posted on its Web site. As part of the overhaul, the CIC also set up a private equity fund investment department to deal with investments in various areas including the real estate market. It also set up a department to handle traditional investments in stocks and fixed-income products. The fourth department will be dealing with asset management operations on open markets, the CIC said. Previously, CIC had altogether three investment departments for investing in equities, fixed-income products and alternate assets. The CIC didn't elaborate on the reasons for the overhaul, which came after the fund's Chairman Lou Jiwei said earlier this month that CIC plans to expand its global investments this year, including in Europe. CIC has suffered large paper losses on stakes it bought in 2007 in Morgan Stanley (MS) and Blackstone Group LP. Officials at CIC have said they were reluctant to invest last year in Western financial firms even as prices plunged. But Lou said earlier this month at the Boao Forum that the environment for overseas investment has changed and some opportunities have been discovered. CIC has also expressed interest in investing in Australia, a country with rich resources and active trade contact with China. -Victoria Ruan contributed to this story, Dow Jones Newswires; 8610 6588-5848; [email protected]

Stock News for Belo (BLC)
02/03/201712:31:37Amended Statement of Ownership (sc 13g/a)

Belo and other New York Stock Exchange stock quotes are delayed by at least 20 minutes.
All other stock price data is delayed by at least 15 minutes unless otherwise stated.
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2016 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations