Western Australia Premier Colin Barnett said the proposed sovereign wealth fund would preserve a percentage of the state’s minerals royalties by investing them in financial securities.
The fund would ideally be built up over a period of 20 years and would be a “passive” and “conservative” investor, the earnings of which would be used to finance state government services such as health and education. “If for example we could work up to preserving 2.5% of royalty income–our royalties income is about A$3.5 billion–it starts to add up,” he said………………………………………..Full Article: Source