The Superannuation Industry (Supervision) Act 1993 will not apply to the new trusts. APRA has prepared an application process and a draft prudential standard for super funds wanting to operate FHSAs.
01/07/2008
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Investments
Canada has established its first national-level sovereign wealth fund with a seed of C$25 billion to underwrite “nation-building” projects like ports, mines and energy infrastructure. In an unusual funding mechanism, the fund will issue a retail product that will allow individual investors to invest with the SWF and “participate in Canada’s growth”.
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