16/02/2009
As the Minister for Superannuation confirms plans to include AGEST in the already-announced merger of the ARIA and Military Super boards from 2010, AGEST chief executive Michael Seton has argued the case for his $3 billion fund remaining stand-alone.
Seton said his understanding of the proposal was that it would merge the boards rather than funds,
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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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