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

Australian wealth-fund push hits roadblock

Posted on 06 May 2011

In a blow to those calling for an Australian sovereign-wealth fund to lock away mining-boom proceeds, opposition Treasurer Joe Hockey, one of the country’s most influential politicians, said Thursday that their case is premature and Australia is already well-served by its pension-savings pool.

Mr. Hockey’s remarks followed a rush of calls in recent weeks from lawmakers, policy makers and others for the government to follow the examples of countries such as oil-rich Norway and invest some of the proceeds of the current boom……………………………………….Full Article: Source


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