| Citi chief economist Willem Buiter argues that one of the best ways to extract this value is through national wealth funds (NWF), " a single institution, removed from direct government influence". "This requires setting up an independent, ring-fenced body at arm's length from daily political influence and enabling transparent, commercial governance," he says.
The NWF differs from the more known sovereign wealth fund (SWF) in that the latter is a more liquid vehicle, investing largely in traded securities across major markets. A national wealth fund, by contrast, is more concerned with the "active management of operational assets as a portfolio", Citi says...............................................Full Article: Source |