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

No sovereign wealth fund for SA

Posted on 21 May 2013

The government has quietly dropped plans to establish a South African sovereign wealth fund originally mooted to help manage the country’s foreign reserves and to stabilise the value of the rand.
Economic Development Minister Ebrahim Patel, in reply to Freedom Front Plus MP Corné Mulder, said the creation of such a fund “is best timed with stable or rising commodity prices. In light of market conditions, no immediate steps are contemplated”………………………………..Full Article: Source


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