By Kevin Grewal, Editorial Director at www.SmartStops.net
NEW YORK (TheStreet) -- When it comes to the global economy, China continues to be the talk of the town. To take it a step further, the nation, expected to witness the largest economic growth in 2010, is said to be driving the fate of exchange traded funds.
According to a recent Securities and Commission filing by the Chinese Investment Corporation, or CIC, the sovereign wealth fund holds north of $9 billion in U.S. equity investments. The detailed filing further indicates the following allocations:
$254 million to the iShares S&P Global Materials (MXI)
$235 million to the Select Sector SPDR TR SBI Int Energy (XLE)
$207 million to the iShares MSCI EAFE Index (EFA), which boasts BHP Billiton (BHP) as one of its top holdings.
$156 million to the SPDR Gold Trust (GLD)
$116 million to the Market Vectors Gold Miners ETF (GDX)
$107 million to the iShares S&P Global Energy (IXC)
$83 million to the Materials Select Sector SPDR (XLB)
$79 million to the U.S. Oil Fund (USO)
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