23.11.2010 - Mauritius to establish $500 mln sovereign wealth fund
From Bloomberg: Mauritius plans to set up a $500 million sovereign wealth fund, Finance Minister Pravind Jugnauth said in Port Louis today as he presented the annual budget. “To ensure greater stability in the forex market, the government is creating a sovereign wealth fund that will be invested in a range of asset classes abroad,” Jugnauth told parliament. The Indian Ocean island nation will use $350 million from its foreign currency reserves and $150 million from a Treasury foreign currency fund, which it will close, he said..............................................Full Article: Source
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