01.09.2011 - Australian PM rules out sovereign wealth fund
Australian Prime Minister Julia Gillard Wednesday ruled out creating a sovereign wealth fund, saying the nation's mandatory pension savings were an "anchor" in volatile economic times. Some business figures have called for the establishment of a sovereign fund to capture the earnings of a mining boom fuelled by demand from Asia. "Some say that in the current economic environment we should be considering establishing a sovereign wealth fund," Gillard said in an address to the Financial Services Council in Sydney..............................................Full Article: Source
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