China pension fund looks abroad for investment opportunities

"The National Social Security Fund has raised its overseas investment to around 10%, still some distance from the 20% upper limit, ” Lou Jiwei, a member of the executive board and former chairman of the agency that oversees the fund, said during a pension investment forum in Beijing on Saturday.

BEIJING: China’s national pension fund has increased investment overseas and is looking to buy into private-equity and venture-capital projects in other countries.

"The National Social Security Fund has raised its overseas investment to around 10%, still some distance from the 20% upper limit, ” Lou Jiwei, a member of the executive board and former chairman of the agency that oversees the fund, said during a pension investment forum in Beijing on Saturday.

The board is waiting for approval to invest in private equity and venture capital overseas, Lou said.

The supplementary social-security fund, whose main purpose is to provide support to China’s elderly, had invested more than 174 billion yuan ($25 billion), or 7.8% of its assets, overseas as of end-2018, according to its most recent annual report. - Bloomberg