China moves back onto global investment stage

Like many other institutional investors, China's sovereign fund pushed much of its asset base into cash during the market downturn. That hurt the hedge funds where much of that money had been placed and industries that the Chinese had begun to invest in around the world.

China is beginning to deploy large amounts of capital from China Investment Corp. (CIC) again. The fund has about $300 billion in assets. According toBloomberg, China Investment has committed "many times" the $500 million that CIC was reported to have placed in hedge funds and private-equity firms in June.