Cautious stance reaps rich dividends for CIC

China's young sovereign wealth fund, China Investment Corporation (CIC), said on Friday that it reaped the benefits of investing cautiously during the global financial crisis, after posting a negative 2.1-percent return from its global portfolio for 2008.

Return on total capital, based on the accounting income of CIC's global portfolio, and the cash income and cash dividend declared from its domestic investment, is 6.8 percent for last year, CIC said in its annual report.

Total investment income and net profit in 2008 stood at $23.955 billion and $23.13 billion.