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

Australia: Heavyweights call for sovereign wealth fund

Posted on 18 February 2011

From Smh.com.au: Business leaders are solidly in favour of creating a sovereign wealth fund to bolster Australia’s future, but they differ on its design and purpose. Executives from Lend Lease, Tabcorp, Foster’s, Mirvac, CSL and Coca-Cola Amatil have joined the Fairfax Media chairman, Roger Corbett, and the Commonwealth Bank chief executive, Ralph Norris, in calling for a sovereign wealth fund to better manage the nation’s legacy from the resources boom.
They are concerned about the long-term cost to the economy of high commodity prices and high terms of trade, and believe the nation should take advantage of the boom while it lasts……………………………………….Full Article: Source


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