| The new leader of Birmingham city council wants to create a “West Midlands sovereign wealth fund” that will invest the region’s public sector pension funds in new homes and infrastructure.
John Clancy, elected at the end of November, said he wanted to take the £11bn West Midlands local government pension fund, the third-largest local authority fund in the UK, and pour it into Birmingham and the surrounding region. “I want to anchor those funds better into the region by investing that wealth in the region,” said Mr Clancy..............................................Full Article: Source
|