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NewsChina pension fund to spend $1.6 bln to boost stocks -paper
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China pension fund to spend $1.6 bln to boost stocks -paper
by hlk Wed 21 Dec 2011, 13:22
Larger Smaller Reset SHANGHAI (Dec 21): China's National Social Security
Fund (NSSF) plans to spend around 10 billion yuan ($1.58 billion) to
boost local stocks, the Shanghai Securities News reported on Wednesday.
The NSSF put the money last Friday into funds focusing on investing in
Chinese stocks, the newspaper reported, without citing sources.
There are currently 16 fund companies that the NSSF authorizes to invest
on its behalf, nine of which have a total of 20 portfolios focusing on
stocks, the paper said. It was unclear which portfolios would receive
the money.
In August, local media reported that the NSSF had
invested in 5 billion yuan worth of domestic stocks through a brokerage
account and may have invested 5 billion yuan more. - Reuters
Fund (NSSF) plans to spend around 10 billion yuan ($1.58 billion) to
boost local stocks, the Shanghai Securities News reported on Wednesday.
The NSSF put the money last Friday into funds focusing on investing in
Chinese stocks, the newspaper reported, without citing sources.
There are currently 16 fund companies that the NSSF authorizes to invest
on its behalf, nine of which have a total of 20 portfolios focusing on
stocks, the paper said. It was unclear which portfolios would receive
the money.
In August, local media reported that the NSSF had
invested in 5 billion yuan worth of domestic stocks through a brokerage
account and may have invested 5 billion yuan more. - Reuters
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