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Sovereign Wealth Funds Briefing - Categorized | Fund Profile/New Launches, People

Western Australia Premier hopes to eventually grow a state sovereign wealth fund

Posted on 16 March 2012

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


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