The China Investment Corp (CIC), the government’s $747 billion (£493.2 billion) sovereign wealth fund, is shifting its focus to U.S. investments and broader global ambitions as it prepares to move its North American headquarters to New York from Toronto early next year, according to people familiar with the matter. With its major Canadian investments in the red as energy and mining companies reel from tumbling oil and metal prices, CIC is looking to cut its exposure, and could move to New York as early as March 1, one source said.