| An Australian sovereign wealth fund has several advocates, including Malcolm Turnbull, clearly the sharpest economic mind on the opposition front bench (even if he did err in opposing the second stimulus package). In a thoughtful speech in April, Turnbull stated: 'I believe that the time has come for Australia to create a new sovereign wealth fund'.
There are three arguments typically made by proponents of a sovereign wealth fund. First, some say that with the Australian dollar at historic highs, we should be amassing greenbacks as a form of insurance against a currency slump..............................................Full Article: Source
|