The Philippines gets a sovereign wealth fund

Maharlika Investments Fund looks like it will be a development vehicle that takes Indonesia for inspiration.

The Philippines is the latest developing country to get a sovereign wealth fund. Long-discussed, a sovereign vehicle was proposed in a bill introduced to the country’s parliament at the end of November. It will be called Maharlika Investments Fund.

Martin G Romualdez, Speaker of the House of Representatives (and cousin of president Ferdinand Marcos Jr), put out a press release explaining the new vehicle (calling it Maharlika Wealth Fund, slightly different to the name on the House bill).

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