Office of Kazakh-Chinese fund CITIC-Kazyna Investment Fund I opened in Beijing
BEIJING. October 14. KAZINFORM /Ruslan Suleimenov/ In the course of the SCO Prime Ministers' Summit there has been announced an office opening of the Kazakh-Chinese investment fund CITIC-Kazyna Investment Fund I with participation of representatives of Kazyna Capital Management JSC. The Fund stockholders set main investment priorities, activity principles and determined key employees of the management company. The Fund will be managed by a joint company, which consists of the Kazakh and Chinese specialists, who have big experience and knowledge in the targeted sectors and spheres of economy. In the nearest time the Fund will open its representation office in Almaty. According to the Fund's investment strategy its activity is directed to companies financing, which implement infrastructural and other investment projects in the non-oil and gas sector of economy, which have great growth potential in Kazakhstan and China. According to the agreement reached it is planned to create two additional investment funds with capital amounting to USD 400 mln each between Kazyna Capital Management JSC and CITIC Capital Holdings Limited in 2011. It is suggested that investors of such funds will be large institutional and private investors of China and South-East China.