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CIC says US Reserve Primary Fund to return all its investment

(Xinhua)
Updated: 2008-10-15 19:42

BEIJING - China Investment Corp. (CIC), which operates the country's sovereign wealth fund, on Wednesday said it had given notice to the Reserve Primary Fund, a US money market fund, to withdraw all its investment before the latter's suspension announcement.

The CIC had received a written verification from the US fund to return the investment and the relevant interest, the Chinese firm said in a statement to clarify the status of its investment in the Reserve Primary Fund via its affiliate the Stable Investment Corp.

Bloomberg reported on Monday CIC may have as much as US$5.4 billion frozen as the Reserve Primary Fund suspended withdrawals last month.