The National Social Security Fund (NSSF) realized US$6.25 billion in profits on its equity investments in 2009, helping total assets to grow 38% to US$113.75 billion, the South China Morning Post reported. The profit came in addition to US$6.19 billion in paper gains, the NSSF said. The fund benefited from a rising stock market last year; the Shanghai Composite Index rose 80%. In 2008, the NSSF posted its first-ever loss, of US$5.77 billion, amid market turbulence. The NSSF is permitted to invest up to 30% of its assets in A-shares. Last month, NSSF Chairman Dai Xialong said the fund would increase the maximum proportion of assets for overseas investment to 20% from 7%.
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