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Wealth fund to invest in hedge funds

(China Daily)
Updated: 2009-06-18 08:09

Felix Chee, an adviser to China's $200 billion sovereign wealth fund, said it aims to make investments in hedge funds.

"We will have a preference for managed accounts," he said in an interview yesterday at the GAIM International hedge fund conference at Monaco's Grimaldi Forum. "The platform would like a core of single-manager funds and fund-of-funds."

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Chee, who said he will initially run China Investment Corp's hedge fund and proprietary trading effort, is a special adviser to the chief investment officer of CIC.

"It'll be across the spectrum of strategies," he said. "We're looking for the best managers and a handful of fund of funds, and when I say handful I mean five or less."

Asked if he was daunted by the prospect of running a $200 billion portfolio, he said "I try not to look at the zeros."

Bloomberg News