Wealth fund to invest in hedge funds

Felix Chee, an adviser to China's $200 billion sovereign wealth fund, said it aims to make investments in hedge funds.

"We will have a preference for managed accounts," he said in an interview yesterday at the GAIM International hedge fund conference at Monaco's Grimaldi Forum. "The platform would like a core of single-manager funds and fund-of-funds."

Chee, who said he will initially run China Investment Corp's hedge fund and proprietary trading effort, is a special adviser to the chief investment officer of CIC.