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

Australian veterans back SWF to save resources boom

Posted on 17 March 2011

From Automatedtrader.net: Australia’s existing wealth fund, the Future Fund, administers 72 billion Australia dollars (US$71.35 billion) set aside to cover the government’s pension liabilities.
The creation of a larger sovereign wealth fund along the lines of those set up in the Middle East’s oil-rich states could see Australia taking significant holdings in major foreign companies and banks as a way to reprocess profits from any possible tax on the nation’s miners……………………………………….Full Article: Source


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