Jan. 25, 2007 (China Knowledge) – The National Social Security Fund (NSSF), China’s pension fund, plans to invest US$750 million overseas by the end of March in its second round of foreign investment.

The new investments will come from either foreign reserves or by converting some of the RMB the fund holds. The fund’s overseas investments, which is managed by a host of global investment management companies, had US$850 million invested overseas at the end of last year with a return of 2.02%.

The fund’s overall return on investment in 2006 was 9.3% with earnings of RMB 19.5 billion, an increase compared to the return on investment of 3.12% in 2005.

In November, the NSSF appointed 10 fund managers to help manage its overseas investment. The 10 fund managers are: AllianceBernstein, Allianz Global Investors, AXA Rosenberg Investment Management Asia Pacific Ltd., BlackRock Ltd., Janus INTECH Asset Management Co., Invesco Investment Co., State Street Global Advisors, PIMCO, M&G Investment Management, and a team comprising UBS AG and China International Capital Corp (CICC).

Allianz Global Investors, Invesco and the UBS AG-CICC team are managing the fund’s Hong Kong stocks.