30.11.2015 - Leong: Cityís sovereign wealth fund to be managed by government corporation
The planned sovereign wealth fund for Macau - named by the authorities as the MSAR Investment and Development Fund - will be supported by an allocation from the cityís extraordinary fiscal reserve and managed by a government corporation, Secretary for Economy and Finance Lionel Leong Vai Tac revealed during the Policy Address 2016 debate on Friday. The proposal of having a government-run corporation to manage the sovereign wealth fund is based on the Monetary Authority of Macauís (AMCM) study that surveyed public opinion, Mr. Leong told the Assembly. The proposal has already been forwarded to the Chief Executive, the Secretary added...............................................Full Article: Source
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