Go figure: Chinese financial institutions both lose and win big in 2015
The PBOC suffered the world’s biggest loss, while China Investment Corporation enjoyed the biggest gain
Chinese financial institutions have outpaced their global peers in terms of changing fortunes when it comes to assets under management in 2015, according to global research on investment trends.
China Investment Corporation, China’s sovereign wealth fund, ranked as the biggest gainer, as its assets under management rose by US$94 billion during the year, according to a report published last week by the Official Monetary and Financial Institutions Forum (OMFIF). The gains elevated China Investment Corporation into the No 5 spot globally in terms of assets, with nearly US$746 billion on its books.
The institution which saw the largest decline in assets was the People’s Bank of China, which saw its assets drop by US$493.2 billion.
However, the People’s Bank of China remained the world’s biggest sovereign asset holder, with foreign exchange reserves and other assets of more than US$3.4 trillion.
“Total assets under management of the 500 largest global public investors fell 2.9 per cent in 2015 to US$28.99 trillion, down US$855 billion from 2014,” the report said.
