Con­ser­va­tive ap­proach on pen­sion funds

China Daily (Canada) - - NEWS CAPSULE -

The chair­man of the Na­tional Coun­cil for So­cial Se­cu­rity Fund said that it would adopt a con­ser­va­tive in­vest­ment ap­proach for the man­age­ment of lo­cal pen­sion funds.

Lou Ji­wei, for­mer fi­nance min­is­ter, said the ap­proach would en­sure that funds have a rel­a­tively low ex­po­sure to the stock mar­ket.

Lou said that seven prov­inces and mu­nic­i­pal­i­ties have en­trusted pen­sion funds worth $52 bil­lion (360 bil­lion yuan) to the NCSSF for man­age­ment and in­vest­ment. The NCSSF has so far re­ceived 137 bil­lion yuan on its ac­count, ac­cord­ing to Lou.

“The pen­sion funds have started to en­ter the stock mar­ket, but the in­vest­ment will have a low ex­po­sure to the mar­ket,” Lou said.

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