Philippine President Ferdinand Marcos Jr. Signs Sovereign Wealth Fund Bill into Law
Posted on 07/18/2023
Philippine President Ferdinand Marcos Jr. signed into law a bill creating a sovereign wealth fund. Ferdinand Marcos Jr. enacted the measure creating the Maharlika Investment Fund (MIF), which is envisioned to pool funds from state banks and government-controlled corporations, and be invested in currencies, bonds, equities, and infrastructure projects. The MIF can invest “in a wide range of assets, including foreign currencies, fixed-income instruments, domestic and foreign corporate bonds, joint ventures, mergers and acquisitions, real estate and high-impact infrastructure projects, and projects that contribute to the attainment of sustainable development.”
The Maharlika Investment Fund is a sovereign wealth fund. It is the country’s first such fund.