Business / Social insurance

China updates list of pension fund managers

(Xinhua) Updated: 2012-07-19 09:06

BEIJING -- China's national pension fund on Wednesday announced a new list of global investment managers that it has picked to help manage the giant social security fund.

The National Social Security Fund said it has signed investment agreements with 12 global investment managers, including JP Morgan, Lombard Odier, Nueberger Berman, Schroders, Standish, Stone Harbor Investment Partners, AGF Management Limited, Investec, RBC Global Asset Management, AEW Capital Management, AMP Capital and European Investors.

The NSSF started to invest overseas in 2006 with no more than 20 percent of its total fund, which mainly covered banking deposits, bank bills, bonds, equities and equity funds, as well as other derivative financial instruments.

The NSSF, which manages the national pension fund on behalf of the central government, had over 868.82 billion yuan ($137.9 billion) worth of assets at the end of 2011.

In 2011, the NSSF only reported an investment revenue of 7.34 billion yuan, with a 0.84 percent rate of return on investment amid the stock market's lackluster performance.

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