NCSSF records blow from 2011 equity losses
28 June 2012
The performance of the National Council of Social Security Fund (NCSSF) took a hit from the bearish A-share market last year, with the supplement pension fund’s investment gains falling back to 0.84% or 7.34 billion yuan (US$1.16 billion) in 2011 from 4.23% in the previous year, according to an announcement from them on June 16.
The fund has accumulated 284.5 billion yuan in investment profit since it was established in 2001. The average investment yield was 8.4% per annum, outperforming the country’s inflation of 6% during the period.
As of the end of 2011, the NCSSF had total AUM of 868.8 billion yuan. Of this, 58.02% was managed in house while the remaining 41.98% was overseen by external fund managers.
The NCSSF has increased its exposure to state-owned enterprises. Last year, the fund increased its stakes in state-owned enterprises by 11.8 billion yuan to 103.6 billion yuan.
More News >
Discuss: NCSSF records blow from 2011 equity losses