Reuters: Private Equity: China pension fund sees room to lift SOE investment - Xinhua

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China pension fund sees room to lift SOE investment - Xinhua Apr 12th 2012, 04:49 SHANGHAI, April 12 | Thu Apr 12, 2012 12:49am EDT SHANGHAI, April 12 (Reuters) - China's state pension fund, the National Social Security Fund (NSSF), has significant room to increase investments in major state-owned enterprises (SOEs) given its expansion in assets, Xinhua News Agency quoted fund Chairman Dai Xianglong as saying on Thursday. Dai said at a recent forum that the NSSF would support the development of companies controlled by the central government by investing in them directly and indirectly. The NSSF can invest up to 20 percent of its assets in central government-controlled companies and as much as 10 percent in private equity funds, some of which also invest in SOEs. The NSSF managed assets worth 869 billion yuan ($137.8 billion) in 2011, up from 856.7 billion yuan in 2010. Dai predicted earlier this year that the fund would expand its asset base to 1.5 trillion yuan by 2015. ($1 = 6.3081 Chinese yuan) (Reporting by Kazunori Takada and Samuel Shen; Editing by Chris Lewis)

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