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Sovereign Wealth Funds Briefing - Categorized | Compliance/Regulation/Legal, Fund Profile/New Launches

BSP can’t create sovereign-wealth fund

Posted on 10 October 2012

The Bangko Sentral ng Pilipinas (BSP) is not allowed to put up a sovereign-wealth fund even with its ballooning gross international reserves, since its charter does not allow it to. This is what BSP Deputy Governor Diwa Guinigundo said in reaction to calls from analysts and other investors that the BSP create such a fund to make equity investments and allow it to diversify its sources of income, thus safeguarding its “nest egg.”
A sovereign-wealth fund is what countries awash with dollars put up to serve as a form of nest egg. China has four such funds, while Singapore has two, including the Temasek Holdings that has investments in some listed Philippine issues………………………………………..Full Article: Source


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