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Sovereign Wealth Funds Briefing - Categorized | Fund Profile/New Launches

Russia, Turkey to form joint investment fund - Russian minister

Posted on 05 September 2016

Russian Economy Minister Alexei Ulyukaev said on Sunday President Vladimir Putin and his Turkish counterpart Tayyip Erdogan had agreed to form a joint investment fund between their two countries. The two leaders met on the sidelines of the G20 summit in the eastern Chinese city of Hangzhou on Saturday.
“We are concluding work on the formation of a Russian-Turkish investment fund,” Ulyukaev said. “At the end of August, Turkey made the necessary legislative changes to create a corresponding partner to our direct investment fund - the Turkish sovereign wealth fund.” Turkey announced plans for a sovereign wealth fund last month, intended to boost annual growth over the next decade and reassure investors unnerved by a failed coup attempt in July………………………………………..Full Article: Source


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