China pension fund to stabilise stock holdings, up fixed-income
BEIJING, July 21 (Reuters) - China's national pension fund will "stablise" its investments in stocks and increase investments in fixed-income assets, its chairman, Dai Xianglong, said in comments published on Monday in the official People's Daily.
Dai, the head of the National Social Security Fund (NSSF), also said the fund, which manages 516.2 billion yuan ($75 billion) in total assets as of the end of 2007, would not invest directly in individual stocks.
He said the fund's investment in stocks has suffered heavy losses in the first half, but the decline in value was less than the drop of the Shanghai Stock Composite Index .SSEC.
(Reporting by Zhou Xin; Editing by Ken Wills)
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