Free Republic

DELIVERING A PLAN TO CREATE A UNITED STATES SOVEREIGN WEALTH FUND: Today, President Donald J. Trump signed an Executive Order calling for the creation of a Sovereign Wealth Fund. The Executive Order directs the Secretary of the Treasury and the Secretary of Commerce to deliver a plan within 90 days for the creation of a sovereign wealth fund. The Secretary of the Treasury and the Secretary of Commerce will work closely with the Director of the Office of Management and Budget and the Assistant to the President for Economic Policy to develop the plan. The Order directs the Secretary to...

Turkish President Recep Tayyip Erdoğan appointed himself chairman of Turkey’s sovereign Wealth Fund and his-son-in law and Treasury and Finance Minister Berat Albayrak as his deputy chairman, Turkish media reports said on Wednesday. According to a decree published in the Official Gazette, Zafer Sönmez, head of Turkey and Africa for Malaysia’s government investment vehicle Khazanah Nasional Bhd, was named as the Wealth Fund’s new general manager. Treasury and Finance Minister Albayrak will also sit on the board, The overhaul comes two years after the Wealth Fund was formed to try and capitalize on state assets and put a lid on...

Norway’s $1 trillion-dollar sovereign wealth fund doubled its return on investment last year, and this year, it’s not shying away from the markets--even when many are giving up on the bull run. In fact, the fund is wholeheartedly embracing the spike in volatility, with plans to add some $40 billion in stocks to its portfolio. After all, the fund beat its own benchmark and it’s riding high on massive $130 billion in winnings. First, let’s look at last year’s success story: