Big Dreams: Mauritius to Set Up $500 Million Sovereign Wealth Fund
The island nation of Mauritius has ambitious plans to create a US$ 500 million sovereign wealth fund. Mauritius Finance Minister Pravind Jugnauth made the announcement in Port Louis today during his annual budget presentation. The sovereign fund will have the ability to invest a wide variety of asset classes such as fixed income, equities and alternatives.
The money will come from the US$350 million in its foreign currency reserves and US$ 150 million from a Treasury foreign currency fund.
The government of Mauritius is keen on having greater financial stability in the foreign exchange market.
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