We forecast a substantial rise in the volume of assets that China’s three SWFs will place in the hands of third party asset managers by 2010. By that time, we expect China’s SWFs to be the world’s third-largest employers of external mandate managers, behind only ADIA and Japan’s National Pension Fund.

 Our projections suggest:  

• More than USD320bn in new assets will be assigned to foreign third-party mandate managers by China’s sovereign wealth funds – China Investment Corporation (CIC), National Council for Social Security Fund (NCSSF) and China-Africa Development Fund (CADFund) by the end of 2010
• CIC’s AUM will rise from USD200bn today to USD624bn by end-10: more than 70% of those new funds will be given to foreign third-party managers